CRUDE OIL - Having tested the 34.26 level and closed below that level on Thursday, we think CRUDE OIL faces the risk of a move lower. On the downside, support resides at the 33.00 level where a break will expose the 32.00 level. A cut through here will set the stage for a run at the 31.00 level. Further down, support resides at the 30.00 level. On the upside, resistance resides at the 34.00 level. Further out, resistance resides at the 35.00 level. A break above here will aim at the 36.00 level and then the 37.00 level followed by the 38.00 level. All in all, CRUDE OIL’s broader bias remains lower though facing recovery threat.

Crude Oil

This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report.

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