Technical Analysis outlook - COMMODITY : CRUDE OIL - CL1

117
Sun 06.Jan.2019
Ticker: CL1
LAST= 47.96

Crude Future movement during the last few days showed a sideways movement, with a recent low price seen on Mon 24.Dec.2018 at 42.36.

The Short view is expected to continue to be in Consolidation between 51.00 - 46.25. And as long as, the price is trading within 49.55 - 47.00, it’s e recommended to wait for a more solid signal. But as of now, the next move is expected to go up to test the upper band of the consolidation at around 49.55 and then to 51.00.

On the other hand, a change in the direction of the general trend needs to be considered when the price trades either above the level 51.00 or below 46.25


Res_2 = 50.50
Res_1 = 48.25

Sup_1 = 45.90
Sup_2 = 43.55

Feragatname

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