Crudeoil : Technical View : 11.12.2019
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On the daily chart, the price slipped 0.02% 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.
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.