WTI CRUDE OIL AT 20 YEARS LOW (20 APRIL 2020)

WTI CRUDE OIL  AT 20 YEARS LOW (20 APRIL 2020)


MONTHLY ANALYSIS


AS WE ARE SEEING CRUDE HAS BEEN TRADING  DOWN SINCE LAST 4 MONTHS AND WE SAW IT HAS REACHED 20 YEARS LOW AT 17.30$ . AFTER TOUCHED THE LEVEL OF 17.30$ WE SAW LIMITED UPSIDE TILL 29.50$. BUT IT HAS AGAIN  DROOPING DOWN AND CURRENTLY TRADING AT  OF 22.60$.

MOMENTUM INDICATOR ALSO TRADING  WITH NEGATIVE DIVERGENCE , WHICH IS SUGGESTING US THIS RISE IS LIMITED .

THE INDEX HAS TRADING WITH LOWER TOP LOWER BOTTOM FORMATION, THE LEVEL OF 17.30$ WILL PLAYS AN IMPORTANT ROLE IN COMING PERIOD ANY BREAKDOWN BELOW THIS LEVEL WE WILL BE SEEING INDEX ALL THE WAY UP TO 14$-12$-10$ RESPECTIVELY .


CRUDE OIL MONTHLY

CRUDE OIL MONTHLY


HISTORICAL DATA






WEEKLY ANALYSIS


ON WEEKLY CHART ALSO INDEX IS TRADING WITH LOWER TOP LOWER BOTTOM FORMATION.

AFTER WE SAW CHANNEL BREAKDOWN AT 43$ LEVEL  HUGE SELL OFF HAPPENED INDEX.AND CURRENTLY INDEX TRADING AT ITS  NEAR 20 YEARS LOW .

FOR COMING PERIOD THE LEVEL OF 26$-29$ IS STIFF RESISTANCE LEVELS OF INDEX.



CRUDE OIL WEEKLY CHART

HISTORICAL DATA



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