Key Levels in Crude Ahead of Inventory Data

Yesterday I spoke about the fact that we weren't able to break through overhead resistance in Crude Oil. We’ve been quite range bound for the moment and my colleague Shain has also touched on it.

The market is clearly waiting on more fundamental news before doing anything and as such the best plan of attack is to monitor the key levels. If we can take out some of the upside resistance levels then we might be able to take another leg higher. However, we will have to wait and see before taking a position as it’s a dangerous game on inventory day.

Key Support and Resistance Levels

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Rowan Crosby

Asia-Pacific Analyst

Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.

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