Oil Delivers Bullish Day

On Tuesday we noted that Oil was running into resistance at the 66.50 level.

Oil closed above the 66.50 level on Thursday. Another possible area for resistance is the day 39 high of 67.02. But with oil only on day 4 for its new daily cycle, oil should have the energy to break though this resistance level. With oil being in a daly uptrend, a break above the day 39 high should result in a trending move.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.