TECHNICAL ANALYSIS BY NSFX 30.08.2015
The commodity made 2 bullish candlestick and rose above its short term dynamic resistance. Next test the 55EMA and then the 200SMA, now in area 53.2. A breakout above this level can lift Crude Oil to test area 56.6. In case the commodity will trade below its 21SMA, now at 42.5, it might test again area 38. The target of a bearish scenario would be area 33, a level traded back in 2008 during the financial crisis.