Weekly Report 26-30 March
Failing to settle below 104.80 support level pushed the price to the upside again to trade above the 20, 50 and 100 Exponential moving averages, and above the main resistance for the technical pattern colored in pink. Accordingly; we may see another upside attempt this week, while breaching 104.80 shall invalidate any upside potential.
The trading range for the week is among the major support at 102.00 and the major resistance at 111.20.
The short-terd trend is to the upside with steady daily closing above 99.60, targeting 116.50.
**New York Candlesticks**
|Recommendation||Based on the charts and explanations above our opinion is buying crude around 106.45 targeting 108.85,109.80 and 110.50. Stop loss four-hour closing below 105.25.|