A level of important trend formation when once formed tend to persist until evidently proven reversed. A bullish trend allows price to move higher highs and higher lows over a long period of time.
A level of important trend formation when once formed tend to persist until evidently proved reversed. A bearish trend allows price to move lower highs and lower lows over a long period of time.
(Crude Oil WTI Daily Chart)
Crude Oil Bullish Uptrend started off since Year 2017 September from $47.50 rallied to $76.90 in the month of September Year 2018. Month of November Year 2018 we see the crude oil price crash all the way down breaking down its Long Term Support (red line) falling into a Bearish Downtrend ever since. Near support is see at $49.20 for the Crude Oil. A break down at this level will bring the price further down to $39.30.
Malaysia Oil & Gas Stocks
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