US OIL
New forecast
The price of oil rose during previous trading to approach the 78.00 level, reinforcing expectations of a continuation of the downward trend, and the way is open to achieving our negative targets that start at 75.70 and extend to 73.80.
Therefore the downtrend scenario will be remain valid and effective ,moving average 50 support the proposed downward trend scenario, which is organized within the downward channel that appears in the chart, remembering that stability below the 78.64 level is important to achieve the proposed goals. so stabilized above 78.64 will postponed the bearish attempts.
The expected trading range for today is between support 75.70 and resistance 78.64 until breaching one of them .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 75.70 , 73.80
resistance line : 77.21 , 78.00
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecast
The price of oil rose during previous trading to approach the 78.00 level, reinforcing expectations of a continuation of the downward trend, and the way is open to achieving our negative targets that start at 75.70 and extend to 73.80.
Therefore the downtrend scenario will be remain valid and effective ,moving average 50 support the proposed downward trend scenario, which is organized within the downward channel that appears in the chart, remembering that stability below the 78.64 level is important to achieve the proposed goals. so stabilized above 78.64 will postponed the bearish attempts.
The expected trading range for today is between support 75.70 and resistance 78.64 until breaching one of them .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 75.70 , 73.80
resistance line : 77.21 , 78.00
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Comment:
US Crude Oil
New forecast
The price of oil rose during previous trading and breached the 77.21 level. It reached the pivotal resistance at 78.64 and the top of the descending channel, so we expect a decline during the coming trading and the price reaching targets of 77.21 and 75.80, respectively.
Therefore,the downtrend scenario will be likely for today, keeping in mind that breaking 78.64 will stop the expected decline and put pressure on the price to rise again.
The expected trading range for today is between support 77.21 and resistance 78.64 until breaching one of them .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
Additionally ,Today News will affect the market .
support line : 77.21 , 75.70
resistance line : 78.00 , 80.56
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
US Crude Oil
New forecast
The price of oil rose during previous trading and breached the 77.21 level. It reached the pivotal resistance at 78.64 and the top of the descending channel, so we expect a decline during the coming trading and the price reaching targets of 77.21 and 75.80, respectively.
Therefore,the downtrend scenario will be likely for today, keeping in mind that breaking 78.64 will stop the expected decline and put pressure on the price to rise again.
The expected trading range for today is between support 77.21 and resistance 78.64 until breaching one of them .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
Additionally ,Today News will affect the market .
support line : 77.21 , 75.70
resistance line : 78.00 , 80.56
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Update
As we said it is possible to reach 78.00 and then will dropped , so now our negative targets will be activate and first target will be 75.70 and then 74.40 , 73.80 , for reminder stabilized above 78.64 by 4H candle it will postponed the bearish attempts .