Crude Oil Chart Analysis - For the Last Two Day Update of 2021

Now we will discuss Crude Oil Chart as we have seen a rally in the last 6-7 days currently it is working near 75.7 Dollars (at the time of Analysis). A straight rally from 66.11 to 77.3 Dollar tracked from 20-12-2021 to 29-12-2021. Today it hit a Resistance area and reverse back as it should be. If we talk about the Resistance area that is 77.20 Dollars as marked on the chart. 

Now let's discuss that what are the possibilities in the coming one or two days. Now it shows a bearish sign which is as usual after this type of movement. As 77.2 is strong resistance there is a higher probability it will show a correction which may be a little sideways to bearish. 

If we look for support then it is 72.7 dollars. You can also understand that it may work between 72.7 to 77.2 Dollars until either line breaks that is Resistance or Support. If the resistance line breaks then a strong upmove may come but this strong upmove will not come in a single day it will increase with time. This will helpful for short-term investors. But as of now, it may become Sideways to Bearish.

Click to Download Chart View- https://invst.ly/w-ccu

Disclaimer: This Chart Study is based on the theory of technical analysis and personal observations. This does not claim for Profit & Loss. 
We are not responsible for any profit or losses made by traders and investors. It is only the outlook of the market with reference to its previous performance. 
All information is a point of view and is for educational and informational use only. All Judicial you are advised to take your position with your sense and judgment.

For Market Updates and Analysis Follow us Social Media Handles-

Youtube-    https://www.youtube.com/c/InvestingBazaar

WhatsApp- +91-9911208979

Facebook-  https://www.facebook.com/investingbazaar79/

Instagram- https://www.instagram.com/investingbazaar/

Twitter-      https://twitter.com/BazaarInvesting

LinkedIn-    https://www.linkedin.com/in/investing-bazaar-8a4b68193/