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CRUDE OIL
With all technical conditions showing strength in #CL, then in the near term #CL has the potential to test its nearest resistance level.
Key Levels
1. Resistance. 2 : 102.47
2. Resistance. 1 : 100.36
3. Pivot : 98.25
4. Support. 1 : 96.14
5. Support. 2 : 94.03
Tactical Scenario
Pressure Zone: If the price holds and does not break below 98.25, there is potential to move up toward 100.36.
Momentum Extension Bias: If 100.36 is also broken out to the upside, #CL could advance to 102.47.
Invalidation Level / Bias Revision
The upside bias weakens if the price breaks below 94.03.
EMA(50) : 98.03
EMA(200): 97.79
RSI(14) : 61.95
Economic News Release Agenda:
Today the United States will release the following economic data:
US - NFIB Small Business Index - 17:00 WIB
US - ADP Weekly Employment Change - 19:15 WIB
US - Core CPI m/m - 19:30 WIB
US - CPI m/m - 19:30 WIB
US - CPI y/y - 19:30 WIB
US - 10-y Bond Auction - 00:01 WIB
US - Federal Budget Balance - 01:00 WIB
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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