Crude Oil
If we look at the EMA(50) where the Death Cross is below the EMA(200) and the RSI(14) indicator which is at the Bearish Neutral level, there is a huge probability that it will weaken today.
Key Levels
1. Resistance. 2 : 58.61
2. Resistance. 1 : 57.97
3. Pivot : 57.28
4. Support. 1 : 56.64
5. Support. 2 : 55.95
Tactical Scenario
Pressure Zone: If #CL breaks down below 57.28, it may test 56.64.
Momentum Extension Bias: If 56.64 is also broken and closes below, Crude Oil could continue weakening to 55.95.
Invalidation Level / Bias Revision
The downside bias is restrained if #CL suddenly strengthens and breaks and closes above 58.61.
Technical Summary
EMA(50) : 57.34
EMA(200): 57.65
RSI(14) : 49.00
Economic News Release Agenda:
Tonight the United States will release the following economic data:
US - ISM Manufacturing PMI - 22:00 WIB
US - ISM Manufacturing Prices - 22:00 WIB
US - Wards Total Vehicle Sales - All Days
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