The crude Oil hour chart began to run down the ladder, and there was still the next action in the short term. The upper resistance is at the top, bottom position of 54.5 lines, while the most recent support is at 53.6, the previous starting point. Only in this form down this support is difficult to hold, recently to focus on the technical side to stop the decline of the signal. Saudi Aramco officially began its IPO in November, then oil prices will get a boost to some extent. Of course, the news surface has such an opportunity, but also needs technical aspects to cooperate with each other, the signal to block the fall is to make more opportunities again. Short-term operation sees 54.5 short, loss at 55, target to 53.6 can be.
Today’s Oil Trading Strategy Recommendations:
Oil: 54.5 Sell, 55.0 Stop Loss, 53.6 Take Profit