Sunday, August 26, 2018

USOIL - 27 August 2018


Fundamental Highlights

Crude oil prices gained traction on Friday and the West Texas Intermediate gained more than $1 on its way to close the week higher following three straight weeks with losses.

Technical Analysis

Technically, the price is now capped between the $68 and $69 levels. A simple consolidation is needed in this area to let the prices surge to the next level which is above the $70 level.

Support: 65.3 64.6
Resistance: 65.88 68.3

Chart (H1)