Crude oil technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The price has broken out of its bearish channel, a strong bullish signal that's supported by momentum indicators.



The next key test for this new rally is the major resistance at the 100-period moving average around 64.78. If the price can clear that level, the bullish outlook is confirmed. However, a drop back inside the old channel would signal that the breakout has failed.

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