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    Thread: CL/Crude Oil (part 7)

    1. #81
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      The WTI crude market fell slightly during the trading session on Thursday as we got a bit of a risk aversion, the start of the session, but we got some break and we hesitated from the 50-day moving average. Most importantly, we continue to use the bullish trend line as support, so although we did not do much during the week, there is one thing we've done that is showing a lot of support. This of course is crucial for the upside, but at the same time we can say that we may get a sharp dip if we fall from here.

      However, I think there is support up to $ 59, so I'm not ready to sell unless we go down there and there is negative trade talks between the US and China. On the other hand, we may be heading towards the $ 64 level above, based on the good news from that meeting. Frankly, I think it's that simple.


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