Killy_Mel

MACRO VEIW: WTI OIL UPDATE: THE RANGE HOLDS

NYMEX:CL1!   Light Crude Oil Futures
WTI Oil             continues to trade within the its relevant range, marked by the 1st standard deviations from 66 day (quarterly mean).

So far it held 2 breakout attempts and has stopped compressing since our last update (see related idea).

The eventual break from the range is very likely to be powerful, as the longer the price sits within it, the more energy it has for a potential move away from the mean. Problem is, we will know the direction of the break only when it actually is confirmed...
Crude oil broke above the median line on 3 nov. This line had been resistance level in August-15, September-15, and now in OCT. so the blasting above was viewed as significant point. defacto, crude is back below the level. probally oil support is the 43.00.
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Killy_Mel 08.hari
so you think its gonna break upwards eventually?
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