Crude Oil Outlook
Crude Oil (WTI) CMP $ 58.
Weekly chart :
1) Crosses 200 period EMA after a brief consolidation in the form of a RdB pattern.
2) HHs and HLs formation observed.
3) Upward sloping trend line support suggests price is in the course of uptrend.
4) $62-$63 minor resistance seen. Above this level, $100-$110 can be seen very easily.
5) All along 30 week EMA should be kept as the exit level.
6) This chart reveals the key risk to developing nation equities.
Weekly chart :
1) Crosses 200 period EMA after a brief consolidation in the form of a RdB pattern.
2) HHs and HLs formation observed.
3) Upward sloping trend line support suggests price is in the course of uptrend.
4) $62-$63 minor resistance seen. Above this level, $100-$110 can be seen very easily.
5) All along 30 week EMA should be kept as the exit level.
6) This chart reveals the key risk to developing nation equities.
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