Thursday, December 5, 2019

Crudeoil : Technical View : 06.12.2019

Crudeoil : Technical View : 06.12.2019

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On the daily chart, the price slipped 0.43% in the last session.

However, the price has pulled back from the lower Bollinger Band, which indicates bullish trend may remain continue.

Furthermore, the price has also shifted 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.