Crude oil – upward momentum solidifies in oil

We can see that price exploded higher last week after briefly testing $45.00 support, in the weekly crude oil chart below.

To unlock the Asian market, register now to the iFX EXPO.

This market has clearly been taken back by bulls and we are looking to be buyers while price is above $43.10 key support level.

In order to trade with the bullish momentum, I am looking for a retrace to value, followed by a price action buy signal to confirm an ideal entry.

With the recent production cut by OPEC sending prices higher, there’s potential upside back up to $52.00 key resistance area. As always, trade at your own risk.

This article was written by Nial Fuller. Nial is a highly regarded professional trader and author. He is the founder of Learn To Trade The Market, the worlds foremost trading education resource. To learn more, visit www.LearnToTradeTheMarket.com

Crude oil – upward momentum solidifies in oil

We can see that price exploded higher last week after briefly testing $45.00 support, in the weekly crude oil chart below.

To unlock the Asian market, register now to the iFX EXPO.

This market has clearly been taken back by bulls and we are looking to be buyers while price is above $43.10 key support level.

In order to trade with the bullish momentum, I am looking for a retrace to value, followed by a price action buy signal to confirm an ideal entry.

With the recent production cut by OPEC sending prices higher, there’s potential upside back up to $52.00 key resistance area. As always, trade at your own risk.

This article was written by Nial Fuller. Nial is a highly regarded professional trader and author. He is the founder of Learn To Trade The Market, the worlds foremost trading education resource. To learn more, visit www.LearnToTradeTheMarket.com