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[Crude Oil]
Although EMA(50) and EMA(200) have not formed a Golden Cross, the RSI(14) briefly touched the Extreme Bullish zone and is now in the Neutral-Bearish level, which indicates potential strength for #CL today.
Key Levels
1. Resistance. 2 : 57.61
2. Resistance. 1 : 57.12
3. Pivot : 56.42
4. Support. 1 : 55.93
5. Support. 2 : 55.23
Tactical Scenario:
Positive Reaction Zone: If the price of Crude Oil breaks above 57.12, it may have the opportunity to reach 57.61
Momentum Extension Bias: If 57.61 is successfully surpassed, Crude Oil could continue its strength up to 58.31.
Invalidation Level / Bias Revision:
The upside bias weakens if #CL declines and breaks below 55.23.
Technical Summary:
EMA(50) : 56.48
EMA(200): 56.52
RSI(14) : 67.12
Economic News Release Agenda:
Today, there are no economic data releases scheduled for when the U.S. session opens tonight.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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