Crude Forms Hanging Man but 20 day Average Supports


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Prepared by Jamie Saettele

Crude is holding above its steep support line and focus remains on the measured objective at 117.94 as well as the corrective channel closer to 115.00. The advance is expected to complete the entire rally from the 2009 low and should help in timing a US dollar bottom (especially against the CAD). The 20 day average is just below yesterday's low at 110.80. There is divergence with the recent high. When combined with the hanging man candle pattern yesterday, caution is warranted.

Support/Resistance Index (M,W,D) – 3, 0, 0


Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.