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Crude Oil Price Update

Writer's picture: Ravi VarsaniRavi Varsani

Price move past the 20 day MA to further test the 100 day MA. The rejection from the supply zone remains in play. I still would not feel comfortable taking a trade at this point. As you can see from the current candle the opinion is 50/50. If price does not break the 100 day MA and breaches 11244 we could see another test to 11500. If price does break the 100 MA my next support level is 10491 or about.

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1/12/23

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