• 1 day How To Invest In The Cybersecurity Boom
  • 3 days Investors Are Patient With Unprofitable Giants
  • 5 days Wells Fargo Back In The Scandal Spotlight Once Again
  • 7 days 5 Stocks To Keep A Close Eye On This Year
  • 9 days As Auto Giants Flail, Look To Chip Stocks For Gains
  • 9 days Central America Is Ready For The Bitcoin Hustle
  • 11 days China’s Video Game Restrictions Unlikely To Slow Down Booming Industry
  • 12 days Top Performing Stocks As Inflation Fears Grow
  • 13 days US Airline Stocks Take A Beating On New EU Restrictions
  • 14 days This IPO Could Open Sustainable Fashion Floodgates
  • 15 days Crypto Crime Nets Another $2B Fraudster
  • 17 days This Week’s Hottest Meme Stocks
  • 19 days Why World Markets Should Be Watching Germany Closely
  • 21 days Could ‘Cultured’ Meat Rival The Plant-Based Megatrend?
  • 23 days ‘Easy Money’: Crypto Is Still Attracting Newbie Investors
  • 25 days Foreign Syndicates May Have Stolen Up To $400B In COVID Benefits
  • 25 days Gold Jumps Above $1800 Ahead Of Jackson Hole Summit
  • 26 days International Banks Blacklist Afghanistan Following Taliban Takeover
  • 27 days China’s Tycoons Are Getting A Serious Reality Check
  • 29 days U.S. Cannabis Space Heats Up With Telling Tilray Acquisition
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

Contact Author

  1. Home
  2. Markets
  3. Other

Crude Oil - Resistance At 38.99 Holds

Crude oil continues to move within a rising channel. Hourly resistance is given at 38.99 (09/12/2016 high). Hourly support can be found at 36.12 (08/03/2016 low). A more significant support stands at 35 (rising channel). Expected to see continued strengthening in the shortterm.

In the long-term, crude oil is on a sharp decline and is of course no showing any signs of recovery. Strong support at 24.82 (13/11/2002) is now on target. Crude oil is holding way below its 200-Day Moving Average (setting up at around 47). There are currently no signs that a reverse trend may happen.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment