economic calendar<\/a>. <\/b><\/p>\n<\/div>\n[ad_2]<\/p>\n","protected":false},"excerpt":{"rendered":"
[ad_1] Weekly Bullish Signal Notice that the price level around today\u2019s low may have some significance. It is near a previously marked price level established by an interim swing low from December at $68.82. Also, last week\u2019s high was at $68.97. Once resistance is surpassed in an advance that price area is typically tested as support in some form. Therefore, today\u2019s low was a successful test of support, and last Friday\u2019s high of $68.97 was a test of resistance. That is a sign of strengthening. Moreover, a bullish continuation signal was generated on the weekly chart with a rally above last week\u2019s high of $68.96 on Monday. That showed strength and established the beginnings of an uptrend on the higher time frame weekly chart. Drop Below $68.80 May Test 20-Day MA Nevertheless, if a drop below today\u2019s low follows, there is potential support around $68.37 and the significant 20-Day MA, now at $67.97. Initial signs of a bullish reversal in crude oil triggered last week on a rally above the 20-Day line and downtrend line. Notice that they were identifying a very similar price level by the time the bullish reversal triggered last Thursday. Given the extent of the of the recent bearish correction where the price of crude declined by $15.36 or 19%, it seems likely the current developing counter trend rally has more upside to go. That correction on a percentage basis was the largest of the prior larger four bearish corrections in crude oil, starting with the drop from the April 2024 peak. Upside Breakout Targets $70.61 to $70.79 If today\u2019s high is exceeded, then crude oil looks like it heads towards the next higher target zone from $70.61 to $70.79. That range begins with the 50% retracement and ends with a prior resistance level. Also, included within the range is the 127.2% extended target for the rising ABCD pattern at $70.81. For a look at all of today\u2019s economic events, check out our\u00a0economic calendar. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":40224,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-40223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/40223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/comments?post=40223"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/40223\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/40224"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=40223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=40223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=40223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}