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TFC Commodity Trading Forum

Re: April Crude/Pulling Back for the Test/Update *PIC*

April Crude is fighting for its life to hold above $95 price support. This is also the upper side of the 10 month broken downtrendline support as well. Failing to hold this level could see price re-test the $90 level again. Momentum reached overbought status and has been waining since mid Jan which is a bearish warning. Breakdowns must hold below support to be valid. Price often washes out stop loss orders with a false breakdown or breakout and then reverses. A successful 'test' is always required for proof.