Oversold technical indicators had led to the following comments on the previous post on the daily bar chart pattern of WTI Crude Oil: "A pullback towards the 200 day EMA and the lower edge of the 'rising wedge' may have started. Bears will probably use the opportunity to sell again."
The pullback faced strong resistance from the 200 day EMA as bears resumed their selling, which dropped oil's price towards a 3 months low of 42.
-- The pullback faced strong resistance from the 200 day EMA as bears resumed their selling, which dropped oil's price towards a 3 months low of 42.
Read more at:
http://investmentsfordummieslikeme.blogspot.in/2016/11/wti-and-brent-crude-oil-charts-bull.html
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