Crudeoil : Technical View : 22.11.2019
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On the daily chart, the price closed in a positive
note and rose by 1.73% in the last session.
Moreover, the price has started trading above the Parabolic SAR and also closed above the Ichimoku Cloud which confirms strength.
Furthermore, the price has also closed above the 200 EMA which suggest rising prices.
In addition, momentum indicator Stochastic (6) has shown a positive crossover which is strong for Crude Oil.
As per the above technical structure; we expect bullish move in the counter.
Moreover, the price has started trading above the Parabolic SAR and also closed above the Ichimoku Cloud which confirms strength.
Furthermore, the price has also closed above the 200 EMA which suggest rising prices.
In addition, momentum indicator Stochastic (6) has shown a positive crossover which is strong for Crude Oil.
As per the above technical structure; we expect bullish move in the counter.