Crude oil price spiked by as much as 19.5% as the markets reopened after the weekend attacks on Saudi Arabia’s biggest refinery.
CLH5 finds its support at 46.65 and a temporary correction is expected for the day before a continuation of down trend occurs
Light Crude Oil prices continue to fall after candles broke below 51 last week forming a lower high
Light Crude Oil surged higher overnight on Middle East tensions, raising to the high at 58.30 as the escalation of a civil war in Yemen raised concerns about the security of supplies.
Light Crude Oil prices continue to range within the ascending triangle observed on the daily chart with the resistance price at 61.36
Light Crude Oil prices find support at 48.32 after breaking above 50 yesterday with candles retracing quickly back below 50