32.2 WTI

Aziz Karayel  |  08/01/2016 12:44

32.20 support level not letting downward pressures  to lower the price. Buy reactions still on for USA Crude Petroleum . WTI reached to the level we’ve been pointed evening analysis which is 34.30 but couldn’t reach 34.30 resistance. This situation bring us the question “are buy reactions still ongoing?”. Our intraday trade strategy would be based 34.30 resistance and we have to check 4 hour candle closure attentively.
 

If Crude petroleum keep its run under 34.30 this means Reactions are over and may keep up it’s downward run and reach until 32.20  support. In case of 4 hour closure reactions may take price 35 -35.60 resistance barriers.  
If we look at the Big picture, price most probably will stay under 34.30 level and may stay negatively.