Crude Oil at a critical juncture

Crude Oil is bullish. However it is at a critical juncture. It is facing resistance at the downward sloping trendline from 2008.

Given the current trend, probability is high that it will break past that resistance and trend upwards. However let us see the price action in this zone before continuing our bullish bias.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: