Crudeoil : Technical View : 26.11.2019
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On the daily chart, the price closed negatively
falling by 0.65% in the last session.
However, the price has started trading above the Parabolic SAR, which indicates bullish trend may remain continue.
Furthermore, the price is also trading above the 200 SMA which suggest rising prices.
In addition, momentum indicator RSI (14) has sustained above it’s 50 level which is positive for Crude Oil.
As per the above technical structure; we expect bullish move in the counter.
However, the price has started trading above the Parabolic SAR, which indicates bullish trend may remain continue.
Furthermore, the price is also trading above the 200 SMA which suggest rising prices.
In addition, momentum indicator RSI (14) has sustained above it’s 50 level which is positive for Crude Oil.
As per the above technical structure; we expect bullish move in the counter.