US Crude Oil grinds out gains, with resistance located at $73.84
Although US Crude Oil dipped lower during the early European session, the selloff attracted buyers. Follow through bullish momentum resulted in a positive daily performance.
I can see no change from yesterday's technical report.
Bespoke resistance is located at $73.94 and $74.36.
With the 88.6% pullback level located at $73.83, we look for limited buying.
The one-hour chart highlights the upward trend as the completion of a BC leg in a cypher pattern known as a Bat. The completion of this pattern will be at $68.00.
Breaking down into a shorter time frame and we have the completion often inside Bat formation at the same level.
Both patterns will be negated on a move through the previous swing high of $74.32.
I can see no change from yesterday's technical report.
Bespoke resistance is located at $73.94 and $74.36.
With the 88.6% pullback level located at $73.83, we look for limited buying.
The one-hour chart highlights the upward trend as the completion of a BC leg in a cypher pattern known as a Bat. The completion of this pattern will be at $68.00.
Breaking down into a shorter time frame and we have the completion often inside Bat formation at the same level.
Both patterns will be negated on a move through the previous swing high of $74.32.