The “yellow metal” continued to develop an upward trend on the 4-hour time-frame. Having rebounded from the support at 1260 the price approached the resistance at 1280.
The bulls will maintain the leadership if they break through the resistance at 1280.00. Their target will be 1300.00.
The bears will regain the initiative if they break through the support at 1260.00. Their target will be 1235.00 and 1215.00.
The 4-hour chart showed that on the crude oil market the sellers’ influence was very strong. During the decline the support at 51.50 was overpassed, and the next support level t 50.50 was tested according to FortFS analysts.
The bulls will regain the leadership if they break through the resistance at 51.50. Their target will be 52.50.
The bulls will maintain the initiative if they break through the support at 50.50. Their target will be 49.60 and 48.60.
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