Technical Analysis

Crude oil cracks 100 hour MA and runs to new session lows

Tilts the bias a little. 

As crude oil heads into the close, the price has cracked to new lows, and also fell below the 100 hour MA. The move has tilted the bias a little more to the downside. A trend line comes in at $64.91. The 200 hour MA is at $64.70.  The contract low reached $65.04 so far.  

If those levels are taken out, it would weaken the technical picture even more.  

ForexLive

Articles You May Like

NZ: Q2 CPI as good as it gets – ANZ
USD/CAD edges lower to 1.3020 area, comes within touching distance of 2019 lows
Make Money In Forex Trading With This Forex Strategy
Simple Narrow Range Forex Trading Strategy ⛏️
“𝗦𝗧𝗢𝗣 trying to BUY & SELL anything that moves” | Forex Trading – Weekly FOREX Forecast |

Leave a Reply

Your email address will not be published. Required fields are marked *