[Crude Oil]
With the Death Cross condition of both EMAs and the RSI in the Neutral-Bearish zone, sellers appear to still be dominant in Crude Oil throughout today.
Key Levels
1. Resistance. 2 : 58.35
2. Resistance. 1 : 57.51
3. Pivot : 56.95
4. Support. 1 : 56.11
5. Support. 2 : 55.55
Tactical Scenario:
Pressure Zone: If the price breaks down and closes below 56.11, there is potential for Crude Oil to test the level at 55.55.
Momentum Extension Bias: If 55.55 is broken, #CL may continue its decline down to 54.71.
Invalidation Level / Bias Revision:
The downside bias is restrained if the price of #CL unexpectedly strengthens and breaks above 58.35.
Technical Summary:
EMA(50) : 56.91
EMA(200): 57.69
RSI(14) : 37.45 WIB
Economic News Release Agenda:
Today, during the U.S. session, several important economic data releases will occur as follows:
US - ADP Weekly Employment Change - Tentative
US - Average Hourly Earnings m/m - 20:30 WIB
US- Core Retail Sales m/m - 20:30 WIB
US - Non-Farm Employment Change - 20:30 WIB
US - Retail Sales m/m - 20:30 WIB
US - Unemployment Rate - 20:30 WIB
US - Flash Manufacturing PMI - 21:45 WIB
US - Flash Services PMI - 21:45 WIB
US - Business Inventories m/m - 22:00 WIB
US - API Weekly Statistical Bulletin - 04:30 WIB
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