on support level
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market rejected its lower movement at 52.2 level, and higher lows appeared in hourly charts. this indicating the buyer are willing to buy it even its at higher price than previous.
thus, a buy for this week is favourble.
the target is shown in the chart.
however, it is still a bearish trend unless it able to break 60 level.
i think it would be hard for oil to break this level as the economic is in fear
thus, a buy for this week is favourble.
the target is shown in the chart.
however, it is still a bearish trend unless it able to break 60 level.
i think it would be hard for oil to break this level as the economic is in fear
Nota
53 is a strong support level! market rejected bear once again!Lower low is started to fade out, buying power getting stronger
51.5 is the major support, once broken, the buying setup is invalid.
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