Daily chart. After pausing for a day of Christmas festivities, markets began to move again. For Crude Oil continues to move higher above its daily pivot located at $ 99.00 a barrel and even comes retreating slightly since opening the CL we will continue to seek the resistance encountered at the point of the $ 100.00 since it is line 8/8 (blue line) the same which would be their last stand in this time frame, but it could even surpass this level as the second line of the trend channel crosses around the 100.86.
4-hour chart. In the 4-hour chart Crude Oil is at the apex formed by two trend lines in addition to the blue center line of its trading band located in 99.23. This situation creates an ambiguous situation: on one side it could fall to its next support line located at 98.39, where the red line from which could be promoted again to the upside. On the other hand, from the point which is at this time the price could continue its upward momentum even above the $100.00 to finally find resistance around 100.80.
1-hour chart. Although Crude Oil rose more than 400 points since the trend began to reverse nearly a month ago on November 29 last, even in this time frame we can see that it still has a long way to go and that is just above its weekly pivot at 98.25 which is coming closer and objectives could be in their week one or two resistance when violating the upper channel line sideways trend.
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