In the previous post dated on 11 May, noted the price range between $47.01 and $47.70 as the immediate resistance zone. However, last 2 days (11 and 12 May) the oil price had closed above the upper band of the zone and now acts as the immediate support zone.
S-Trader Trend Tracker daily resistance levels still remains.
Resistance1 = $51.38
Resistance2 = $49.18
S-Trader Trend Tracker weekly support and resistance.
Resistance = $54.62
Support = $44.81
Will the immediate support zone able to hold ?
Source :
1) Metastock
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