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Crude Oil Prices Rise Shaprly

Published 04/30/2015, 07:01 AM
Updated 07/09/2023, 06:31 AM

Crude Oil 4-Hour Chart

Oil price rose sharply to trade above 127.2% Fibonacci level located at 57.35 – 57.20 and above linear regression indicators. Trading above the aforesaid level 57.20 will cause more bullishness toward 60.00, while breaching 60.00 level will accelerate the bullishness toward 61.45 Fibonacci 161.8% level as the image above shows.

Only breaching down 55.70 can cancel our bullish expectations, however, we prefer trading above 57.20 to keep a higher probability for bullishness.

Crude Support Resistance & Recommendation

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