Oil Technical Analysis 19-01-18

Posted on
Oil Technical Analysis 19-01-18

As we advised last week and as we examined in our previous charts:

Crude oil managed to break above the resistance level 62.60, where the market may have a chance to sustain its gains as the next resistance lies at the 66.00-60 zone.

From that zone, should the market keep trading below the 66.60 point, there is a chance for a drop correction with the trading zone moving towards the support at 59.00.

Above the 66.60, with the daily close above this level, there may be a new uptrend wave created towards the 74.00 zone.

(Visited 9 times, 1 visits today)

At ORBEX the trader is our greatest asset. We provide access to trading FX, Futures, Metals, CFD’s and Commodities on MT4 and word-class customer service.

- Website

Follow Me:
TwitterFacebookLinkedInPinterestGoogle PlusYouTube