25 Jun 2014
Crude Oil: Bullish while above 105.10 - 2ndSkies
FXStreet (Bali) - Chris Capre, Founder at 2ndSkies Forex, maintains a bullish bias in Oil while above key support at 105.10.
Key Quotes
"In this weeks market commentary, we suggested looking for buying opportunities near the same role reversal level, and for a second time, the commodity has bounced off this support zone."
"This suggests the bulls are willing to hold the line for now, so we will maintain a bullish bias while above this support zone. If the level holds this week, then the commodity should retest the recent highs around 107.30 before sellers will consider entering again."
Key Quotes
"In this weeks market commentary, we suggested looking for buying opportunities near the same role reversal level, and for a second time, the commodity has bounced off this support zone."
"This suggests the bulls are willing to hold the line for now, so we will maintain a bullish bias while above this support zone. If the level holds this week, then the commodity should retest the recent highs around 107.30 before sellers will consider entering again."