Oil Technical Analysis - Uniglobe Markets

Oil Technical Analysis

Posted on January 11, 2019 at 07:00 AM

We still expect oil to continue to rise to settle around 52.50, stability above this level is considered positive and ensures more volatility in the coming days. Technical indicators are supportive of the bullish trend. Oil continues to rise to 54.50 on condition that the level is not breached 51.50

Support: 50.50

Resistance: 54.40

Price Trend: Up above 52.50 with a target of 54.50 on the condition of not breaching 51.50

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