HomeContributorsTechnical AnalysisCrude Oil: Sees Further Upside, Eyes The 70.41 Region

Crude Oil: Sees Further Upside, Eyes The 70.41 Region

CRUDE OIL – The commodity faces further recovery threats following its higher close on Wednesday. On the downside, support resides at the 69.50 level where a break will expose the 69.00 level. A cut through here will set the stage for a run at the 68.50 level. Further down, support resides at the 68.00 level. On the upside, resistance resides at the 70.50 level. Further out, resistance comes in at the 71.00 level. A break above here will aim at the 71.50 level and then the 72.00 level followed by the 72.50 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, CRUDE OIL remains biased to the upside.

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FXAssurehttps://www.fxassure.com/
Mohammed Isah is a co-founder, technical strategist and head of research at FXAssure.com. He has been trading and analyzing the foreign exchange market for the past 7 years. He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXassure.com.

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