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TFC Commodity Trading Forum

April Crude/Pulling Back to Support/Again *PIC*

April Crude broke above $95 resistance in Jan and classically ran up to $98.65 & then pulled back to the $95 breakout point 'test' level. This test was successful with price running up to this same breakout level high of $98.65 and price is once again testing the $95 level support but with a loss of momentum and being overbought. Key to watch is this $95 support AND $98.65. A break of either will determine the next significant price direction. Seasonal trends in all time frames show an overall uptrending market from mid Feb into August.