Technically, the price attempted multiple times to break above both the 100- and 200-hour moving averages, but each effort lacked follow-through, and upside momentum quickly faded. The failure to hold above those key resistance levels led to a pullback, with price falling to a low of $60.29. On the downside, the next key support levels are the May 15 low at $60.12 and the May 23 low at $60.00. A break below these levels would strengthen the bearish bias and open the door for further downside pressure.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( Crude oil future settle at $60.89 down -$0.64 or -1.04% )
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