So far, April was a good month for the oil bulls
- WTI was able to hold major support at $35
- Breakout above the 40-week (200-day) moving average
- Breakout above resistance of $40
- $40 is now the current support zone
- $45 is the current resistance zone
- $50 is the intermediate target and major resistance zone
Reference my April 12, 2016 post for WTI.
“Technical Analysis is about probabilities.”
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