A daily candle on the latest US close on the WTI oil price has formed a bullish key reversal (refer to Daily FX Chart: https://www.dailyfx.com/crude-oil). This, coupled with a break above the 8, & 13 & 21-day exponential moving averages is indicating that the month long sell-off for crude oil prices may (or has) come to an end. Both daily MACD & Slow Stochastics (SS) have turned higher with the SS now in bullish territory. If the break-out continues, next key levels to be breached in the WTI oil price are: $57.3, $59.6, $60 & then $63.7. If this scenario on the oil price works out favourable, it will be positive for SEA as its price is geared to the price of oil.
SEA Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
