Crudeoil : Technical View : 18.11.2019
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On the daily chart, the price closed in a positive note and rose by 0.80% in the last session.
Moreover, the price tried to enter inside the Ichimoku Cloud but has witnessed strong support
at those levels and has eventually closed above the cloud.
Furthermore, the price has been trading above the Parabolic SAR, which confirms power to the
bulls.
Momentum indicator MACD has sustained above it’s zero level which indicates bullishness.
As per the above technical structure; we expect bullish move in the counter.
Moreover, the price tried to enter inside the Ichimoku Cloud but has witnessed strong support
at those levels and has eventually closed above the cloud.
Furthermore, the price has been trading above the Parabolic SAR, which confirms power to the
bulls.
Momentum indicator MACD has sustained above it’s zero level which indicates bullishness.
As per the above technical structure; we expect bullish move in the counter.