Crude Oil analysis for 02.13.2020 – Buying opportutnieis preferrable with the main target at 52.50

Trading 13 fév 2020 Donner votre avis

Technical analysis:

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Crude Oil did setup perfect bull flag of the middle Bollinger band, which is good sign for the further upside movement. I expect further upside movement towards the levels at 52.50 and 54.30.

Buying the dips on 1h-4H seems like great strategy according to the current condition.

MACD oscillator did show big decreasing in momentum to the downside in the background and bull divergence, which is confirmation for our long bias.

Resistance levels are set at 52.20 and 52.50

Short-term support levelis set at 50.80

The material has been provided by InstaForex Company - www.instaforex.com

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