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CRUDE OIL
If we see both EMAs still forming a Golden Cross intersection, then today Crude Oil has the potential to test its nearest resistance level.
Key Levels
1. Resistance. 2 : 112.20
2. Resistance. 1 : 108.65
3. Pivot : 103.88
4. Support. 1 : 100.33
5. Support. 2 : 95.56
Tactical Scenario
Positive Reaction Zone: If the price holds at 103.88, there is a high probability #CL will rise toward 108.65.
Momentum Extension Bias: If 108.65 is broken, #CL could extend gains to 112.20.
Invalidation Level / Bias Revision
The upside bias weakens if #CL falls below 95.56.
Technical Summary
EMA(50) : 104.22
EMA(200): 103.02
RSI(14) : 45.72
Economic News Release Agenda:
Today the United States will release the following economic data:
US - Trade Balance - 19:30 WIB
US - Final Services PMI - 20:45 WIB
US - ISM Services PMI - 21:00 WIB
US - JOLTS Job Openings - 21:00 WIB
US - New Home Sales - 21:00 WIB
US - RCM/TIPP Economic Optimism - Tentative
US - API Weekly Statistical Bulletin - 03:30 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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