FX.co ★ Crude Oil risk levels 26_11

Crude Oil went nowhere yesterday and is now trading at $57.95, closer to the upper line of the rising channel in which it has been moving since the beginning of October.

$58.10 could be a good level to try a short, with the 1st target around $57.50 and the second one eventually close to $57.25.

Only on a break above $58.15, we could see prices moving fast to $58.50 level. If it were the case to see prices trading close to $58.85, I would definetely consider the fact that the channel is being tested.

Stay Safe!