In July, we witnessed a remarkable surge, with oil prices soaring over 14%, marking the most substantial monthly percentage increase since January last year. A perfect blend of tighter supply and surging demand triumphed over concerns about potential interest rate hikes and lingering inflation, igniting economic growth prospects.
Adding to the excitement for...
Making a Bearish triangle and also have a gap if it comes down so it may fill the gap
Crude sell at 80.81.
TP1 78.90
TP2 77.90
TP3 77 (If it fills the gap)
TP4 75.80 (If it fills the gap)
SL 82
On the weekly time frame, prices are holding below a key area at 127.80 where we could see further downside below this area. On the H4 time frame, we are seeing a shift in order flow with the break of the recent low at 112.50. A pullback to the resistance area at 114.80, in line with the 61.8% Fibonacci retracement and 100% Fibonacci extension presents an...
As we know Russia is agree to stop the war with Ukrain and by this we saw much fall on USOIL. There is some chances that might be USOIL rise again to retest it's supply zone then fall from that level.
USOIL is tested it's supply zone and now it is rejecting it. If it fall from the current price then we can see further down fall. Better to look short on USOIL as it make highest price.
