Bullish Turn In Crude Oil – Can Doji Candles Help? - Forex News by FX Leaders
WTI - 4 Hour Chart

Bullish Turn In Crude Oil – Can Doji Candles Help?

Posted Monday, August 13, 2018 by
Arslan Butt • 1 min read

Oil prices slid as trade tensions and troubled emerging markets notched the outlook for fuel demand, though U.S. sanctions against Iran aimed towards tighter supply ahead.

For the moment, crude oil is facing a strong support near $67.50, and above this, the market can go for further buying trend.

4 Hour Chart

WTI Crude Oil – 4 Hour Chart

The immediate resistance is likely to be at $68.10 and $68.65. Whereas, the support prevails at $66.75 and $66.30. If you are interested in weekly trading levels, check out our recent update.

For today, taking buying positions only above $67.50 seems to be a good idea.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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