Brent

We hit 61 support last week but a little early for me. I want to see the lower trendline touched before attacking 70 resistance.

The harami/hammer drove the rise Friday after a quick drop from 65. Stalled at MA20.
US$ strengthening was the reason for the initial fall. Should this continue we might see my wider scenario play out and allow a nice run higher and potentially an upper channel break.

F4T

Rolling over now with RSI breakdown and more pronounced divergence. IMO 61 still looks a good bet before attacking the recent high. A break of 70 is key here but might prove tough.



GL
F4T

Yep, a good bounce as well to the next resistance. I still see last week as a short term high.

Let's see what happens.
F4T

looks like support held today?

www.dailyfx.com/crude-oil

SMA and horizontal support is about to fall IMO. Nice RSI divergence and looks like 2 RSI supports might also fall.

Crude looks to have peaked short term. Shooting star breaking down a short term wedge.
64/64.50 is a key area on my chart. A break should give 61 a chance.



F4T