Crude Oil has formed a Bullish Butterfly Pattern in Daily Chart and soon it will going to test the resistance level at 104.80-105.30.
There is a Bullish Gartley in H1 Chart which means from the short term and long term both are indicating signals about an up trend, other important signal is bullish divergence shown by the Stochastic Oscillator in daily chart, price is moving down continuously while the indicator is moving up with down trend.
these are the strong signals, however i am still waiting for placing a buy order because of the candles. Confirmation from candles is very important in short time frames like one hour/four hour charts, candle like a Doji or Hammer at support level always indicate a reversal in the trend.
So keep your eyes on the #CL and soon there will be an opportunity for buying.
Today's important levels are:
D_S1: 101.26
D_S2: 100.30
D_S3: 99.56
D_PP: 102.00
D_R1: 102.96
D_R2: 103.70
D_R3: 104.66
There is a Bullish Gartley in H1 Chart which means from the short term and long term both are indicating signals about an up trend, other important signal is bullish divergence shown by the Stochastic Oscillator in daily chart, price is moving down continuously while the indicator is moving up with down trend.
these are the strong signals, however i am still waiting for placing a buy order because of the candles. Confirmation from candles is very important in short time frames like one hour/four hour charts, candle like a Doji or Hammer at support level always indicate a reversal in the trend.
So keep your eyes on the #CL and soon there will be an opportunity for buying.
Today's important levels are:
D_S1: 101.26
D_S2: 100.30
D_S3: 99.56
D_PP: 102.00
D_R1: 102.96
D_R2: 103.70
D_R3: 104.66
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| Crude oil analysis |
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