Oil Day line level on Thursday five consecutive test of the upper channel line support after Friday’s strong rise and pause the above trend line suppression. Bollinger Bands as a whole remain in an upward-dispersing state, and Oil runs between the upper tracks in the Bollinger Bands. The daily EMA 20-day moving average is supporting around 55, and oil is currently coming to the Bollinger Bands track in four hours. Later the early jump higher open, the MACD gold fork red energy column continued to disperse, The S5 trend trading system in 55.5-55.0 to form a support area, 1 hour levels for the morning Oil fall back. At present, the fast turn slow line flat, there is the formation of a dead forks trend, S5 trend trading system double moving point has made a dead fork trend. Short-term oil prices look down, the lower Bollinger Bands mid-track and trend line anti-support in the vicinity of 55.3, Intraday trading down 55.3 near the low multi-operation can be.
Today’s Oil Trading Strategy Recommendations:
Oil: 55.3 Buy, 54.8 Stop Loss, 56-56.5 Take Profit