Commodities Have Scope to Rise into Trading Week End

WTI Crude Oil (NY Close): $92.56 // -0.25 // -0.27%

Prices put in back-to-back Spinning Top candlesticks above support at 92.51, the December 16 low, pointing to indecision and hinting a bounce may materialize. Initial resistance lines up at 95.41, the February 2 session low. Alternatively, renewed selling through support exposes 90.49.

 

Daily Charts - Created Using FXCM Marketscope 2.0 

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About the Author
Ilya Spivak

Ilya Spivak is San Franciisco-based currency strategist for DailyFX.

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