Crude Oil Moving Near Main Support Line At 58.25
ICN.com | Jun 22, 2015 04:19AM ET
Oil is presently moving near main support line and above 23.6% Fibonacci at 58.25.
Stabilizing above this level could bring a new technical try to inch higher, but we need to witness a break above moving averages to assist ADX and RSI to give off positive signals.
From here, we prefer to be neutral to see the price behaviors around the main support line.
Support: 59.15-58.25-57.70
Resistance: 60.00-60.65-61.40
Recommendation: Stand aside.
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