OVERVIEW>>>>>>>>>>
Yesterday’s inclines stopped by the main resistance of the bearish channel, as oil recovery was limited by 37.75 – previous low- and under SMA50.
Thus, trading below 39.25 is negative and we prefer to see prices below 37.75 to prove the bearishness.
A break below 36.00 will bring the bearishness back on ADX and RSI14.
Support: 36.00 – 35.10 – 34.20
Resistance: 37.35 – 37.75 – 38.60
Direction: Bearish below 36.00
Yesterday’s inclines stopped by the main resistance of the bearish channel, as oil recovery was limited by 37.75 – previous low- and under SMA50.
Thus, trading below 39.25 is negative and we prefer to see prices below 37.75 to prove the bearishness.
A break below 36.00 will bring the bearishness back on ADX and RSI14.
Support: 36.00 – 35.10 – 34.20
Resistance: 37.35 – 37.75 – 38.60
Direction: Bearish below 36.00