AvaTrade - Analytics

    AvaTrade

    237.25 8.75/10
    100% of positive reviews
    Real

    Crude showing solid upward trend

    Crude oil is trading sharply above its upward trend on a 4 hour time frame. This confirms that the upward trend is robust and the bias remains towards the upside as long as the price stays above this trend line.

    The crude price is testing the 50 day moving average which is shown in the yellow colour and if the price finds its support from this, it will confirm further confirm the above argument. However, if the price breaks below the 50 day moving but still remain above the 100 day moving average which is in red colour, this will reflect that the bulls are losing their control of the price. It is also important to pay attention to the most recent consolidation pattern and the price has been hovering within this rectangular pattern.

    The RSI and the MACD are losing clear sign of divergence in relation to the price action which reflects that while the price has been making the higher highs, the price hasn’t confirm this.

    Screen Shot 2015-05-14 at 09.59.34

    Important Zones 

    56.95-55.85 Support Zone

    61.61-62.50 Resistance Zone


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree