"Crude" analysis

5 thg 7, 2016

Nothing significant on this chart as of now. Purple zones are monthly support/resistance... Yellow zones are weekly support... Daily is trending down. Expecting a break below the 46 zone. However, the long trend remains until we close below 43 on the weekly. If this occurs, we can expect price to retest monthly support at 33. If price holds 43, we may see a move back long to retest 50. Only time will tell.