CRUDE OIL: WEEKLY SCENARIO

CRUDE OIL

CRUDE OIL  Price Technical Analysis: Weekly Chart

  • In the weekly charts , Crude Oil is trading in an upward channel.
  • Crude Oil is near its crucial support of 20-days SMA. If it breaks this support, it will possibly test the 50-days SMA level.
  • Crude Oil will follow an uptrend in the coming weeks.
  • The Crude Oil crucial support level is at 74.95 which is near 20 days SMA as of now. There are no signs of a bearish trend.
  • Bulls have their tight grip on Crude Oil .

TRADE SIGNAL-CRUDE OIL– Buy: 90.00, TARGET:-90.50, STOP LOSS:- 89.75.

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