Crude Oil: Remains In Up Channel
ICN.com | Apr 22, 2015 07:21AM ET
Crude oil declined yesterday, failing maintain trading above 127.2% Fibonacci level. Although trading below 57.10 minimize the probability of more bullishness, the price still trading inside an up channel as we can see on the image above. Moreover, the price is trading above 55.60 level.
We will stay neutral today, as indicators turned negative, however, we cannot sell oil now based on technical fact “ trend is your friend!”
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