US Oil finding resistance on 4hr channel after build in inventories

Author: Giles Coghlan | Category: News

Build in inventories

US Oil data shows that there has been a build in inventories

  • Crude oil sees a build of 10270K vs 3200K estimate
See here for release details.

The underside of the 4 hour channel is now being tested, seen here on the 15 minute chart. The 4 hour trend line is shown above sloping down. Stay below and the 200EMA and 100EMA are the next stops in price. A move above would see the 100 EME as the target for a break above.

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