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Crude Oil
With all technical conditions supporting its strength, then Crude Oil (#CL) has the potential today to test its nearest resistance level.
Key Levels
1. Resistance. 2 : 99.39
2. Resistance. 1 : 98.03
3. Pivot : 96.31
4. Support. 1 : 94.95
5. Support. 2 : 93.23
Tactical Scenario
Positive Reaction Zone: If the price breaks out above 98.03, there is a likelihood the move will continue up toward 99.39.
Momentum Extension Bias: If 99.39 is also broken, #CL could test 101.11.
Invalidation Level / Bias Revision
The upside bias weakens if #CL falls and closes below 93.23.
Technical Summary
EMA(50) :
EMA(200):
RSI(14) :
Economic News Release Agenda:
Today the United States will release the following economic data:
US - ADP Weekly Employment Change - 19:15 WIB
US - HPI m/m - 20:00 WIB
US - S&P/CS Composite-20 HPI y/y - 20:00 WIB
US - CB Consumer Confidence - 21:00 WIB
US - Richmond Manufacturing Index - 21:00 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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