On the 4 hour chart, Crude Oil is rising to the 39.44 level as its prime target and the 40.72 level as its second target. Both of these targets are already in Low Resistance Liquidity Run (light blue rectangle) area. Bulls may take the upper hand, especially after entering the High Resistance Liquidity Run Area (Maroon Rectangle). The price may retrace to the 38.01 level before resuming its upward movement. This scenario will come true if the price does not decline and close bellow the 37.06 level.
(Disclaimer)
The material has been provided by InstaForex Company - www.instaforex.com
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