Crude strongly resisted near 200 day Weekly EMA. After Resisting near 74$ it shows strong move towards
$68 and showing negative divergence pattern in daily charts.
By Applying 13,34,55 EMA Principle we could find that crude is trade below all the three major EMA zone
13 EMA – 69.98
34 EMA – 69.54
55 EMA – 68.14
So $68-70 could be a possible resistance band. If any immediate reversal to take place then possibly
this zone will act as a immediate resistance zone
