Crude Oil has the potential to strengthen today toward its nearest Resistance level.

[Ben Graham]

[Crude Oil]

With all technical conditions supporting a strengthening in Crude Oil, then in the near term #CL is likely to move toward its nearest Resistance level.

Key Levels

1. Resistance. 2 : 68.26

2. Resistance. 1 : 66.87

3. Pivot : 65.07

4. Support. 1 : 63.68

5. Support. 2 : 61.88

Tactical Scenario

Positive Reaction Zone: If the price breaks above 66.87, there is potential for #CL to move toward 68.26.

Momentum Extension Bias: If 68.26 is broken, #CL may continue its rally toward 70.06.

Invalidation Level / Bias Revision

The upside bias weakens if #CL falls and closes below 61.88.

Technical Summary

EMA(50) : 64.99

EMA(200): 63.41

RSI(14) : 59.65

Economic News Release Agenda:

Tonight the United States will release the following economic data:

US - Final Manufacturing PMI - 21:45 WIB

US - ISM Manufacturing PMI - 22:00 WIB

US - ISM Manufacturing Prices - 22:00 WIB

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