Here's the level oil needs to hold for the crude rally to rage on, according to one top technician (via cnbcfuturesnow)
Crude can't crank higher unless it stays above the key $60 level, says expert technician Louise Yamada.
And if you ask Yamada, who runs Yamada Technical Research Advisors, oil prices are facing some serious resistance that can't be topped without similarly strong support. At the same time, crude is bumping up against resistance at the $64 level, which it failed to hold in Friday's session. If the stars align — crude's 50-day moving average crossing above the 200-day moving average at the same time as the price moves above $65 a barrel — Yamada gets more bullish.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dollar sags as commodity currencies draw support from crude oil surgeThe dollar sagged on Tuesday after weak U.S. economic data while commodity-linke...
Read more »
Oil prices dip on surging U.S. crude stockpilesOil prices fell on Thursday after U.S. crude stockpiles surged to their highest ...
Read more »
Oil prices fall on surging U.S. crude supply, economic slowdownOil prices fell on Thursday, pressured as U.S. crude stockpiles surged to their ...
Read more »
Oil prices slip on economic worries, surging U.S. crude supplyOil prices were dragged down on Thursday by surging U.S. crude stockpiles and re...
Read more »
Atalanta go level on points with Milan after holding InterAtalanta, missing leading scorer Duvan Zapata through suspension, earned a cruci...
Read more »
Oil won't be going back up to $80 levels, Goldman Sachs' commodities head Jeff Currie saysOil won't be returning to the peak levels it saw last year when global benchmark Brent Crude hit $86 a barrel, Goldman Sachs' top commodities analyst said Monday.
Read more »
Top 10 cities LGBT travelers are booking for Gay Pride this year, according to OrbitzTop 10 cities LGBT travelers are booking for Gay Pride this year, according to Orbitz via CNBCMakeIt
Read more »