[Crude Oil]
With the appearance of a Bullish Divergence and a Golden Cross position on both EMAs, showing that buyers appear to dominate #CL, so there is potential for a near-term upside.
Key Levels
1. Resistance. 2 : 104.05
2. Resistance. 1 : 101.60
3. Pivot : 96.84
4. Support. 1 : 94.39
5. Support. 2 : 89.63
Tactical Scenario
Positive Reaction Zone: If #CL holds at 96.84, there is a likelihood of a move up toward 101.60.
Momentum Extension Bias: If 101.60 is broken and closes above, #CL may test 104.05.
Level Invalidation / Bias Revision
The upside bias weakens if #CL falls below 89.63.
Technical Summary
EMA(50) : 96.39
EMA(200): 92.06
RSI(14) : 56.25 + Bullish Divergent
Economic News Release Agenda:
From the United States, the following economic data will be released:
US - Empire State Manufacturing Index - 19:30 WIB
US - Capacity Utilization Rate - 20:15 WIB
US - Industrial Production m/m - 20:15 WIB
US - NAHB Housing Market Index - 21:00 WIB