Crude Moves Above Averages
ICN.com | Sep 16, 2015 04:56AM ET
Moving sideways increases the risk in the market as we see prices moving again above moving averages 20 and 50 near 38.2% Fibonacci at 44.85.
Areas of 43.50 have proved their strength alongside forming a long white candle, but trading above 45.80 is essential to prove extending the wave towards 46.55 and 46.60.
On the downside, coming below 43.50 will negate the bullish tendencies.
- Support: 44.90 – 44.00 – 43.50
- Resistance: 45.40 – 45.80 – 46.60
- Direction: Bullish above 45.80.
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