rent Crude is holding strong at $111.60, but the battle lines are drawn!
After spiking to a day high of $113.64, price faced heavy selling pressure, leaving a clear rejection wick that trapped late buyers. We are currently consolidating right around $111.60 as the market catches its breath.
What’s next?
Support to watch: $111.26 (Day Low). If this breaks, expect a retest of the $110.00 psychological zone.
Resistance to watch: $113.64. Bulls need a clean break above this wick to resume the macro uptrend.
After spiking to a day high of $113.64, price faced heavy selling pressure, leaving a clear rejection wick that trapped late buyers. We are currently consolidating right around $111.60 as the market catches its breath.
What’s next?
Support to watch: $111.26 (Day Low). If this breaks, expect a retest of the $110.00 psychological zone.
Resistance to watch: $113.64. Bulls need a clean break above this wick to resume the macro uptrend.