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Kav1ka

Crude Oil Bounces Off The Weekly Trendline

Long
U.S. DOLLAR / WTI CRUDE OIL (FX_IDC:USDWTI)  
Kav1ka Updated   
FX_IDC:USDWTI   U.S. DOLLAR / WTI CRUDE OIL
Trend Analysis Fibonacci Trend Lines crude Crude Oil Oil commodity
4
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trendanalysis fibonacci trendline crude crudeoil oil commodity
This week in Crude Oil is an important week to determine whether we will see prices heading back towards $75, or a continuation to the downside. On the chart, the market found support on the weekly trendline, together with the daily 200 period-moving average and the 88.6 Crude Fib level. However, following last week's bearish momentum, the bulls would have to show up this week if they want to keep control of this market. In my opinion, it is going up.

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Trade closed: target reached
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