Crude Oil: Prices Inching Higher Achieving Daily Close Above 92.50
ICN.com | Sep 16, 2014 05:18AM ET
Yesterday, we preferred to stay aside due to trading with a neutral zone between 90.50 and 92.50. But, prices have inched higher, achieving convenient daily closing above 92.50 along with long white candlestick as seen on the provided daily chart. This incline may confirm the potential positive divergence on MACD, which we will use to be bullish on oil over intraday basis. Of note, a break above SMA20 will confirm and accelerate the bullish recovery.
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