#trading# Crude oil started the week on the back footing and came under pressure following recent highs past the $80.00 mark per barrel. Caution is still required as bulls may face strong headwinds at $80.00 zone again, as bullish momentum on daily chart is weakening and stochastic continues to diverge from the price action. The immediate support is near $77.50. On the other hand, the resistance is far near $85.10.
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Like this article? Show your appreciation by sending a tip to the author.
Leave Your Message Now