Minor Trend line resistance- $47.30 (trend line joining $48.37 and $47.93)
Major support - $46.80 (Hourly Kijun-Sen)
US Oil has broken minor trend line resistance at $47.30 and jumped till $47.68 at the time of writing.
The WTI crude oil is trading well above Tenkan-Sen and Kijun-Sen .So slight jump till $48.27 (200 HMA) is possible.
On the lower side, support is around $46.87 (Hourly Kijun-Sen) and nay break below targets $46.50/$45.80.
The major intraday resistance is around $47.80 (90 H EMA) and break above targets $48.27/$48.87 (21 day MA).
It is good to buy at dips around $47.45-$47.50 with SL around $46.80 for the TP of $48.25/$48.87
Major support - $46.80 (Hourly Kijun-Sen)
US Oil has broken minor trend line resistance at $47.30 and jumped till $47.68 at the time of writing.
The WTI crude oil is trading well above Tenkan-Sen and Kijun-Sen .So slight jump till $48.27 (200 HMA) is possible.
On the lower side, support is around $46.87 (Hourly Kijun-Sen) and nay break below targets $46.50/$45.80.
The major intraday resistance is around $47.80 (90 H EMA) and break above targets $48.27/$48.87 (21 day MA).
It is good to buy at dips around $47.45-$47.50 with SL around $46.80 for the TP of $48.25/$48.87