Oil: Break Below 36.00 Is Required To Extend Bearishness
ICN.com | Mar 10, 2016 04:28AM ET
WTI Crude Oil
RSI started to show some kind of negativity along with bearishness on ADX, and thus, we will be bearish after failing to hit 50% Fibonacci at 38.50.
On the downside, a break below 36.00 is required to extend the bearishness.
A break below SMA20 at 37.05 will be bearish and risk versus reward ratio becomes good as far as 38.50.
Support: 37.05 – 36.00 – 35.50
Resistance: 38.00 – 38.50 – 39.20
Direction: Bearish correction
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