Crude Oil Resisted By Middle Axis of Bollinger Band

Discussion in 'Technical Analysis' started by calvinwalker, Apr 11, 2007.

  1. After 5 day’s declining, crude oil posted a white candle yesterday, however the candle is small body with hand and leg which meaning the commodities market facing cross road now, from the crude oil future chart below, we can see the bounce of crude oil yesterday was resisted by the middle axis of Bollinger Band 62.44. And from the Stochastic Oscillator (STO), we can see the %K tried a bounce to cross %D but failed, now the %D still over the %K which is a bullish signal.