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[Crude Oil]
With all technical conditions supporting a strengthening in Crude Oil, then in the near term #CL is likely to move toward its nearest Resistance level.
Key Levels
1. Resistance. 2 : 68.26
2. Resistance. 1 : 66.87
3. Pivot : 65.07
4. Support. 1 : 63.68
5. Support. 2 : 61.88
Tactical Scenario
Positive Reaction Zone: If the price breaks above 66.87, there is potential for #CL to move toward 68.26.
Momentum Extension Bias: If 68.26 is broken, #CL may continue its rally toward 70.06.
Invalidation Level / Bias Revision
The upside bias weakens if #CL falls and closes below 61.88.
Technical Summary
EMA(50) : 64.99
EMA(200): 63.41
RSI(14) : 59.65
Economic News Release Agenda:
Tonight the United States will release the following economic data:
US - Final Manufacturing PMI - 21:45 WIB
US - ISM Manufacturing PMI - 22:00 WIB
US - ISM Manufacturing Prices - 22:00 WIB
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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