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