LiteForex: WTI Crude Oil: Murray analysis On the 4-hour chart, the price has grown to the area of the upper border of the Murray trading range 62.50 ([8/8]), but has not tested it and was corrected to 61.72 ([7/8]). The consolidation of the price below this the level and the middle line of Bollinger Bands can lead to the development of the downward correction to the levels of 60.94 ([6/8]) and 60.15 ([5/8]). Stochastic confirms it, reversing downwards near the overbought area. On the other hand, as MACD in the positive zone and Bollinger Bands and MA are growing, the upward trend, within the correction can develop, maintains. The price can grow to the levels of 63.28 ([+1/8]) and 64.00 ([+2/8]) after the consolidation above the level of 62.50. Support and resistance Resistance levels: 62.50 ([8/8]), 63.28 ([+1/8]), 64.00 ([+2/8]). Support levels: 61.72 ([7/8]), 60.94 (6/8]), 60.15 ([5/8]), 59.37 ([4/8]). Trading tips Short positions can be opened after the price is set below the level of 61.72 and the middle line of Bollinger Bands with the targets at 60.94, 60.15 and stop loss at around 61.85. Long positions can be opened after the price is set above the level of 62.50 with the targets at 63.28, 64.00 and stop loss at around 62.10.