• 346 days Will The ECB Continue To Hike Rates?
  • 346 days Forbes: Aramco Remains Largest Company In The Middle East
  • 348 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 748 days Could Crypto Overtake Traditional Investment?
  • 752 days Americans Still Quitting Jobs At Record Pace
  • 754 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 757 days Is The Dollar Too Strong?
  • 758 days Big Tech Disappoints Investors on Earnings Calls
  • 759 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 760 days China Is Quietly Trying To Distance Itself From Russia
  • 761 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 764 days Crypto Investors Won Big In 2021
  • 765 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 766 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 768 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 768 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 771 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 772 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 772 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 774 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

Crude Oil – Continued Reversal

Crude oil continues its move higher. The break of the hourly resistance at 42.22 (28/07/2016 high) and 43.39 (26/07/2016 high) has confirmed deeper buying pressures. Hourly support is given at 39.19 (03/08/2016 low).

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