Light Crude Oil FuturesUpdated Bullish but slowing down; Target 50, then sideways
Expect the bullish trend we are in to slow down as we run into resistance areas
Upward sloping support line active.
Look for 9 day and 20 day MA as target for pullbacks
Upward sloping support line active.
Look for 9 day and 20 day MA as target for pullbacks
Note
Target nearly achieved. Market has since come off into the 47s.Downside target of 9 day MA around 47. If that is breached look for the 20 day MA and the red trendline as support.
I would expect a test of either in the coming days before returning to the prevailing trend
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.