Technical Analysis and Outlook
Crude oil continues to extend its gains following Oil Rally $50.40 completion. The latest increase might be mitigated with a farther advancement to Key Resistance $53.10, and perhaps Oil Rally $54.50 - we shall see. Intermediate Mean Support $44.90 and Key Support $42.50 will continue to serve as intermediate stops of the decline. (For Market Commentary, please visit the TradingSig_dot_com).
Crude oil continues to extend its gains following Oil Rally $50.40 completion. The latest increase might be mitigated with a farther advancement to Key Resistance $53.10, and perhaps Oil Rally $54.50 - we shall see. Intermediate Mean Support $44.90 and Key Support $42.50 will continue to serve as intermediate stops of the decline. (For Market Commentary, please visit the TradingSig_dot_com).