Crude Oil (Daily Chart) - Time for a Rebound!

2018년 11월 12일

After a prolonged bearish sell down, this counter might be overdue for a rebound, which we might see this week.

There is strong support at the $60 level, and prices have deviated very far from the 20-EMA, which is a sign of it being oversold.

The overall trend is still bearish, and if it does rebound, I would expect the sellers to step back in at around $64 to resume the downtrend.