Crude Oil - Weekly Take

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Replacing the A-point of the fork to April 10 resulted in a less steep angle for the fork. It is good to see that the centerline was reached. However, for the week ahead I see a slightly bullish case; The Centerline is a potential target - again.

Bull Case

  • The small support zone holds
  • We see a full bar above the 1/4 line
  • Daily progressive price increase with only minor pullbacks


Bear Case
  • The small support zone breaks with a full bar
  • Subsequent days with lower lows and lower highs
  • Next support is the L-MLH


Base Case
  • No movement, no momentum "tweets"

Penafian

Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.