Crude oil prices rebounded from sub-$100 levels, with technical analysis suggesting further gains if support at $95.40 holds.
Crude Oil printed a low below 100 before rebounding.
As we see from the chart, the advance wave is still ongoing while more highs are likely if prices hold above the second support zone of 95.40-96.35.
Below this zone, more of a drop toward 90.50 is likely.
SUPPORT | RESISTANCE | |
|---|---|---|
LEVEL1 | 100 | 105.20 |
LEVEL2 | 95.40-96.35 | 108.55 |
LEVEL3 | 90.50 | 115.75 |
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