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[Crude Oil]
With both EMAs which intersect with a Golden Cross and RSI(14) in the Extreme-Bullish level, then #CL remains in a strengthening bullish bias.
Key Levels
1. Resistance. 2 : 107.19
2. Resistance. 1 : 104.14
3. Pivot : 89.07
4. Support. 1 : 95.08
5. Support. 2 : 89.07
Tactical Scenario
Positive Reaction Zone: If the price breaks out above 89.07, there is potential for #CL to move up toward 104.14.
Momentum Extension Bias: If 104.14 is broken, 107.19 becomes the next target.
Invalidation Level / Bias Revision
The upside bias weakens if the price breaks down below 89.07.
Technical Summary
EMA(50) : 97.77
EMA(200): 94.36
RSI(14) : 74.31
Economic News Release Schedule:
No economic data releases from the United States today, but Fed Chair Mr. Powell will deliver a speech at 21:30 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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