Crude Oil - Potential for a minor correction
Crude Oil - Intraday - We look to Sell a break of 31.00 (stop at 31.75)
A shooting star has been posted as prices reject the higher levels. Prices have reacted from 33.00. Trading inside the Daily Ichimoku Cloud. Expect trading to remain mixed and volatile. Momentum is stalling with the posting of new highs and indicates bearish divergence. Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible. This has resulted in mixed signals and we prefer to trade a break.
Our profit targets will be 29.50 and 28.00
Resistance: 32.20 / 33.00 / 34.40
Support: 31.00 / 29.00 / 28.00
A shooting star has been posted as prices reject the higher levels. Prices have reacted from 33.00. Trading inside the Daily Ichimoku Cloud. Expect trading to remain mixed and volatile. Momentum is stalling with the posting of new highs and indicates bearish divergence. Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible. This has resulted in mixed signals and we prefer to trade a break.
Our profit targets will be 29.50 and 28.00
Resistance: 32.20 / 33.00 / 34.40
Support: 31.00 / 29.00 / 28.00
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