Daily chart
The prices of Crude Oil continue their rising recuperation after the yesterday’s session, they entered again over their daily pivot that is on the level of 96.98. Being at this point (green line) which also finds 3/8 line it serves to underlie its status of quotation, there is a high probability that prices go after the central line of the aforementioned status of quotation the same that is located at the 100,00 dollars. Nevertheless, we can have a bigger confirmation for it when the price surpasses its canal's superior line of downdraft, under which the price is at this moment. Our risk would be about 70 pips if we decide to enter positions of purchase in the current price of quotation which would give us a risk.
4-hour chart
On the 4-hour chart crude oil has moved between yesterday and today from the base line 3/8 to superior line that the 5/8 turns out to be the same that is on the level of 97.66. Nevertheless, it continues at this moment in spite of having moved back lightly from this zone, the crude is going up and about to violate the bearish trend line that has taken shape in this area. Therefore, CL will have still a lot road to go over the line at least even at the moment of depositing 5/8 above the line 8/8 (celestial line) the same that is in the $100.00.
1-hour chart
Finally, Crude Oil right now finds above the line in 1-hour chart 5/8 (green line) confirming the rising panorama to us that way. Although at this moment the price comes touching channel’s superior line of tendency for this time frame. Nevertheless, right now the aforementioned line 7/8 converges with the line (yellow line) the same that is regarded as a weak line of resistance and the tendency to medium term is rising that the price finishes going beyond the aforementioned line to continue with ascending road. A rising panorama since the price of CL behind having borne on the intermediate celestial line drove to retake its tendency, also shows us its gravitational band's indicator and now the following objective would be the orange line.
If you have any questions or suggestions, please contact me right through:
Email:antonio.inga@analytics.instaforex.com
DISCLAIMER
No information published constitutes a solicitation, offer, or recommendation, to buy or sell any investment instrument, to effect any transactions, or to conclude any legal act, whatever its nature.
The information published and opinions expressed are provided on an only for information only and is subject to change without notice, delimiting the company responsibility for decisions originating from the same, and they cause any kind of profit, loss or damage.
