Crudeoil on Falling wedge pattern

21 mar 2020

Crudeoil, as expected took support exactly on the trend line for the third time in this crisis. I expect the price to move slowly to 50$ depending upon the global conditions. But if price crosses below 19$ then it will go back to the last support 11$ which in turn good for investment purpose.

Overall I conclude crude is on a BUY with a target of 50$ if not trading below 19$.