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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…

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Crude Oil - Holding Below $50

Crude oil is having difficulties to push any higher. Hourly support can be found at 42.50 (26/04/2016 low) while resistance can be found at 50.21 (26/05/2015 high). The technical structure suggests a further consolidation of the commodity. Yet crude oil still lies within the uptrend channel.

In the long-term, crude oil is now recovering from its sharp decline and the signs of recovery are now strong. Strong support lies at 24.82 (13/11/2002) while strong resistance can be found at 50.96 (09/10/2015 high). Crude oil is holding way above its 200-Day Moving Average. Expected to reach 60 before year-end.

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