REDATOR Ben Graham Posted January 5 REDATOR Report Share Posted January 5 Crude Oil If we look at the EMA(50) where the Death Cross is below the EMA(200) and the RSI(14) indicator which is at the Bearish Neutral level, there is a huge probability that it will weaken today.Key Levels1. Resistance. 2 : 58.612. Resistance. 1 : 57.973. Pivot : 57.284. Support. 1 : 56.645. Support. 2 : 55.95Tactical ScenarioPressure Zone: If #CL breaks down below 57.28, it may test 56.64.Momentum Extension Bias: If 56.64 is also broken and closes below, Crude Oil could continue weakening to 55.95. Invalidation Level / Bias RevisionThe downside bias is restrained if #CL suddenly strengthens and breaks and closes above 58.61. Technical SummaryEMA(50) : 57.34EMA(200): 57.65RSI(14) : 49.00Economic News Release Agenda:Tonight the United States will release the following economic data:US - ISM Manufacturing PMI - 22:00 WIBUS - ISM Manufacturing Prices - 22:00 WIBUS - Wards Total Vehicle Sales - All DaysThe material has been provided by InstaForex Company - www.instaforex.com Visitante_e13c7251 1 1 Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Liked! × 💬 Did you like this content? Your feedback is very important! Liked! Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Quote Link to comment Share on other sites More sharing options...
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