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TFC Commodity Trading Forum

June Crude/At Support *PIC*

June Crude has pulled back to the Dec low support at 93.50. This is also the Nov breakout pt of the Oct high. And it is also a Fib 50% retracment point of the entire Oct low to March high rally. Most oscillators are very oversold as well and show divergences. The RSI 21 rarely tags 30 and the CCI 20 plunged below -200 and is showing a positive divergence at this price low. A break below 93.50 that holds would suggest much more weakness ahead. Meanwhile support is support and a bounce back from here would be far more likely. You pays your money and takes your own chances.