Crude OIL is right now in a really important area. Fundamentally, Opec is currently made a statement of cutting the supply side, but the world economic slowdown is suspected by some. Due to that oil price is not really spiking up in price.
Technically, OIl is right now really important and interesting price area. $57.60 per barrel was previously strong support and resistance. And, if you can see from my chart the resistance line is broken and now retesting it. Also, there is a big time-frame strong support line can be seen from the bullish view. As long as $57.60 hold I am bullish.
Technically, OIl is right now really important and interesting price area. $57.60 per barrel was previously strong support and resistance. And, if you can see from my chart the resistance line is broken and now retesting it. Also, there is a big time-frame strong support line can be seen from the bullish view. As long as $57.60 hold I am bullish.