Blake Morrow’s Chart of The Day – Apr 27th 2021

CRUDE OIL

Crude oil is building a symmetrical candle near term with support at the $59.75 level and resistance at the 61.8% Fibonacci retracement at the $64.03 level. A breach of either level should set the pace for the coming weeks. RSI is mid range awaiting a breakout. In the event that we break lower below the $59.75 level, dips back to the $55 level, or 38% retracement would support. Resistance would be at the $68.00 level on a bullish breakout.