March Nymex mini crude oil futures a fresh buying opportunity on more price strength.
See on the daily bar chart for Nymex March crude oil futures that prices have made a decent move higher this week, and that a bullish “cup-and-saucer” chart pattern had formed recently. The crude oil bulls have gained upside near-term technical momentum recently and a move above near-term chart resistance at $91.00 would become a fresh buying opportunity in the “mini” crude oil futures contracts. The upside price objective would be $97.00, or above. Technical support, for which to place a protective sell stop just below, is located at $88.00.
