In this post from January, I identified a resistance zone for crude oil futures. Price has now moved into that zone and for 3 days has been churning:
- Day 1 = Range of $2.02 and closed up.
- Day 2 = Range of $2.27 and closed down.
- Day 3 = Range of $2.27 and closed up.
Crude Oil Futures – Daily chart
Crude Oil Futures – 1 year, Daily chart