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Crude Oil Technical Analysis

Bulls take comfort in bounces from ahead of 2014 and 4 year lows and below the Bollinger band base with

The Bollinger band top capped on Wednesday and Thursday saw Stoxx50 pullback from

The sharp correction lower from ahead of Tuesday’s Nov high and dip below

While layers of resistance remain in the $76.48-79.85 region a bearish bias will dominate.

Stoxx50 continues to probe the layers of resistance noted in the 3126.6-3169.9 region with

Gains continued for gold Tuesday with the close above the 21-DMA ($1186.7) and

Bulls took a little comfort in the bounce from fresh 2014 and 4 year lows and

After repeatedly bouncing from support noted just below the 21-DMA Stoxx50 is again testing

The break higher Friday hints at a shift in focus to a bullish bias but the failure to close above the 21-DMA remains a concern for bulls.

Bulls took a little comfort in the bounce from fresh 2014 and 4 year lows and

Yet another dip below the 21-DMA (3049.1) has resulted in a bounce from ahead of the key 3026.4 support.

The break of the triangle that had developed recently combined with the close above the previous