Wednesday, March 23, 2016

Crude is approaching a turning point

Crude is approaching a significant resistance at 43.5 with a negative RSI divergence while being in a 5th wave up.

Currently 41 price level is crucial:

  • Above 41 crude will probably finish its 5th wave at around 43.5 and then correct possibly towards 34-36  
  • Below 41 will correct immediately towards 34-36