Yesterday's upper movement failed to cut through its EMAs, disabling any further movement that would break the consolidation it is going through, it has been a week. Breaching 44.33 will send Oil south to 40.26, with 42.71 as a primary objective.
Breaking through 45.85 will send Oil towards be sent towards 46.36, which breaching will induce a rally with 51.54 as an objective.
Cutting through 44.68 will send Oil down towards 44.4. Breaching 44.4 will send Crude down to 40.26 with 42.71 as a primary objective.
Volumes are increasing, after two day of very low volumes. If volumes continue to increase tomorrow, it will suggest the end of the current consolidation.
Crude's daily Pivot Point is around 45.3. The daily support levels are around 44.75 and 44.13. The daily resistance levels are around 45.92 and 46.47.
Breaking through 45.85 will send Oil towards be sent towards 46.36, which breaching will induce a rally with 51.54 as an objective.
Cutting through 44.68 will send Oil down towards 44.4. Breaching 44.4 will send Crude down to 40.26 with 42.71 as a primary objective.
Volumes are increasing, after two day of very low volumes. If volumes continue to increase tomorrow, it will suggest the end of the current consolidation.
Crude's daily Pivot Point is around 45.3. The daily support levels are around 44.75 and 44.13. The daily resistance levels are around 45.92 and 46.47.
