Oil has closed in the red, giving signals that it is willing to seek lower lows, as it is was being traded in a flag, during the last two days, which breaking out will send it seeking 34.22, with 35.55 as a primary objective. The 38.18 level will be Oil's resistance for today.
The rejection of the flag will send it back to re-visiting 40.26, should it breakout 39.19.
On a daily scale, a breakout of 38.18 will send it seeking 39.19, with 38.59 as a primary objective.
A breakout of 36.9 will result in the breakout of the flag, which can be followed by a throwback.
The daily Pivot Point is around 37.69. The daily support levels are around 36.39 and 35.57. The daily resistance levels are around 38.51 and 39.81.
The rejection of the flag will send it back to re-visiting 40.26, should it breakout 39.19.
On a daily scale, a breakout of 38.18 will send it seeking 39.19, with 38.59 as a primary objective.
A breakout of 36.9 will result in the breakout of the flag, which can be followed by a throwback.
The daily Pivot Point is around 37.69. The daily support levels are around 36.39 and 35.57. The daily resistance levels are around 38.51 and 39.81.
