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/CL - Comex Market Analysis and Trading Tips - 28th June 2016

FX:USOIL   Crude Oil (WTI)
Overview:
The Crude oil             market had a fairly negative day on Monday, as market continue to worry about all things European Union and United Kingdom related. The primary trend of Crude oil             is bearish on charts. On its 4 hourly chart, market is trading below 100 days moving average. It is having important resistance at the level of $48.12 and support level at the level of $46.50. On its 4 hourly charts, MACD is sustaining in its negative territory and RSI is sustaining in its selling zone indicating the upcoming bearish trend in the oil             prices. On an intraday basis one can go for sell on higher level strategy.

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