• 33 mins Is The Gold Miner Bull Run Coming To An End?
  • 23 hours Are More Stock Splits On The Horizon In The Tech Sector?
  • 1 day How COVID-19 Could Change Elections Forever
  • 2 days Mexico Kickstarts War On Junk Food
  • 2 days How America Could Go Green Right Now
  • 3 days Russian Prestige And American Politics: The COVID Vaccine Race
  • 3 days Is The Silver Rally Over Or Just Getting Started?
  • 4 days Alibaba-Backed Tesla Competitor Set To IPO In The U.S.
  • 4 days Emerging Economies Could Get Left Behind In Race For COVID Vaccine
  • 5 days Dead Malls Could Be Amazon’s Next Target
  • 5 days Unpacking Biden's Energy Plan
  • 5 days Russia Aims To Become World's Top Gold Producer
  • 6 days Global Tech Stocks On Edge Over Trump TikTok Ban
  • 6 days Cobalt Squeeze Threatens The Electric Vehicle Boom
  • 7 days COVID Has Sparked A Surge In Cybercrime
  • 7 days Precious Metals Bulls Still Have Plenty Of Room To Run
  • 8 days The U.S. Has The Tech To Go Green, But Will It Use It?
  • 8 days Massive Losses Force Russian Commodities Giant To Slash Dividends
  • 9 days Markets Up On Stimulus Hope
  • 9 days UK To Invest In Europe's First Geothermal Lithium Recovery Plant
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

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 - Ready For Further Decline

Crude oil is still riding a short-term bearish channel. Resistance can be found at 51.67 (09/06/2016 high). Expected to weaken toward support at 42.50 (26/04/2016 low). The technical structure suggests a further bounce back as the commodity has ended to set lower lows.

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 at 50.96 (09/10/2015 high) has been broken. Crude oil is holding way above its 200-Day Moving Average. Expected to reach 60 before year-end.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment