USOUSD (Crude Oil) Daily: 02/04/2023: Bull or Bear?!

As you can see, after the downward movement, the price started correction around 64$.

Well now, the crude oil price is on an important level. It is daily resistance, the price is near 0.705 Fibo. level (Optimal trading level) and some other reason that can pull the price down.

On the other side, The momentum of this correction was high that it may cause the price to reach higher levels and then fall.

I must point out that the demand zone specified in the chart is strong and can temporarily keep the price above this range, and if not much selling power enters the market, the price may break the supply zone.

Overall, I see this chart as bearish and believe that the price will fall from here or from the supply zone.



💡Wait for the update!
🗓️02/04/2023
🔎 DYOR

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