CRUDE OIL

If we see both EMAs still forming a Golden Cross intersection, then today Crude Oil has the potential to test its nearest resistance level.

Key Levels

1. Resistance. 2 : 112.20

2. Resistance. 1 : 108.65

3. Pivot : 103.88

4. Support. 1 : 100.33

5. Support. 2 : 95.56

Tactical Scenario

Positive Reaction Zone: If the price holds at 103.88, there is a high probability #CL will rise toward 108.65.

Momentum Extension Bias: If 108.65 is broken, #CL could extend gains to 112.20.

Invalidation Level / Bias Revision

The upside bias weakens if #CL falls below 95.56.

Technical Summary

EMA(50) : 104.22

EMA(200): 103.02

RSI(14) : 45.72

Economic News Release Agenda:

Today the United States will release the following economic data:

US - Trade Balance - 19:30 WIB

US - Final Services PMI - 20:45 WIB

US - ISM Services PMI - 21:00 WIB

US - JOLTS Job Openings - 21:00 WIB

US - New Home Sales - 21:00 WIB

US - RCM/TIPP Economic Optimism - Tentative

US - API Weekly Statistical Bulletin - 03:30 WIB