REDATOR Ben Graham Posted January 14 REDATOR Report Share Posted January 14 Crude oil is trading around $60.78, below 3/8 Murray and within the upward trend channel formed since January 7. Crude oil is expected to continue rising over the next few hours and could reach 4/8 Murray around $62.50.Crude oil is struggling to continue rising as it has technically reached overbought levels. Therefore, a technical correction towards 2/8 Murray at $59.31 is expected in the coming hours, and WTI could even reach the 200 EMA around $58.14 per barrel.A break above 3/8 Murray located at $60.93 could be a signal for a continuation of the upward movement, and crude oil could reach $62.50.The Eagle indicator is showing overbought signals. Thus, a sharp drop is likely to occur in the coming hours, so we will look for opportunities to open short positions below $61.00.The trend remains bullish for crude oil, but we should expect a technical correction towards the 200 EMA located at $58.14. Then, this area could be seen as a good point to open long positions during a technical rebound. The material has been provided by InstaForex Company - www.instaforex.com Visitante_3407d6af 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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