Oil Price Technical Analysis Part 2
10 Year - Weekly
I have posted a series of charts showing oil prices over the following time frames:
This 10 year chart shows 3 main technical levels:
- Long term trend line resistance at $55 (red line).
- Long term support at $40.
- Long term trend channel support at $30 (green line). Prices could drop to this level and oil would still be in a long term uptrend.