Crude Oil futures had a decent rally in line with the market exuberance, and alongside agreements to cut oil production. However, it appears that the rally is done, and is turning.
Our chart shows the Sell signal, and imminent failure of the 37 support, having a bearish divergence on the MACD, and failing to close a significant gap.
Downside target of 25, with support at 34, 30 and 27.50.
Our chart shows the Sell signal, and imminent failure of the 37 support, having a bearish divergence on the MACD, and failing to close a significant gap.
Downside target of 25, with support at 34, 30 and 27.50.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.