Crude Oil, which supported by its technical indicators, has the potential to strengthen today.

[Ben Graham]

[Crude Oil]

With the EMA in a Golden Cross position and the RSI in the Neutral-Bullish level, then the potential for #CL to strengthen today is very promising.

Key Levels:

1. Resistance. 2 : 61.91

2. Resistance. 1 : 61.29

3. Pivot : 60.30

4. Support. 1 : 59.68

5. Support. 2 : 58.69

Tactical Scenario:

Positive Reaction Zone: If the price of #CL strengthens and breaks above 61.29, it may continue to rise to 61.91.

Momentum Extension Bias: If 61.91 is successfully broken, there is potential for further strength to 62.90.

Invalidation Level / Bias Revision:

The upside bias weakens if the price of Crude Oil declines and breaks below 58.69.

Technical Summary:

EMA(50) : 60.22

EMA(200): 59.86

RSI(14) : 54.67

Economic News Release Agenda:

Tonight, the following economic data will be released from the U.S. market session:

US - Trade Balance - 20:30 WIB

US - Crude Oil Inventories - 22:30 WIB

The material has been provided by InstaForex Company - www.instaforex.com