Crude Oil – Are all the Longs Exhausted?

Well to answer the title of today’s article we will say that until the close of yesterday the oil is only making a stop, especially seen the strong volumes of days 10 and 11 when it exceeded and closed above 65, ceiling of the step by Price 60-65 and the short little volume entered in yesterday’s session. It is true that the sessions of last Thursday and Friday the long volumes decreased significantly and hence the correction of yesterday. Only the entry of a huge short volume would ruin the long ones. The longs have in the 70,44 the next important resistance, also clear of those of the price.

Only if you enter a very strong short volume and lose the last 61.8% Fibonacci (64.08), you would unify the rise in such a way that it would leave the next Fibonacci support 38.2% higher at 57.94.

For all this and as we have been warning lately, all prudence will never be out of place.

See in our video analysis today everything in more detail, as well as the key areas to contemplate and a more extensive explanation. Also in the morning broadcasts on Monday and afternoon that we do daily.

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