US CRUDE OIL 4H : OUTLOOK
US OIL
New forecast
Oil price is making attempts to penetrate the 78.83 level and finds strong resistance there, waiting for positive momentum to contribute to pushing the price to confirm the breach and then opening the way to rush towards the 80.56 and then 82.00 levels, which represent the next positive targets.
Therefore the upward scenario will be remain valid and effective supported by moving average 50 that is provides positive support for the price. Let us continue to favor the upward trend for the coming period, provided it remains above 75.70, as breaking this level represents a negative factor that will pressure the price to decline.so stabilized above 78.83 and then our target will be activate .
The expected trading range for today is between support 74.41 and resistance 78.83 .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
Additionally ,Today News will affect the market .
support line : 75.70 , 74.41
resistance line : 78.00 , 78.83
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
Oil price is making attempts to penetrate the 78.83 level and finds strong resistance there, waiting for positive momentum to contribute to pushing the price to confirm the breach and then opening the way to rush towards the 80.56 and then 82.00 levels, which represent the next positive targets.
Therefore the upward scenario will be remain valid and effective supported by moving average 50 that is provides positive support for the price. Let us continue to favor the upward trend for the coming period, provided it remains above 75.70, as breaking this level represents a negative factor that will pressure the price to decline.so stabilized above 78.83 and then our target will be activate .
The expected trading range for today is between support 74.41 and resistance 78.83 .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
Additionally ,Today News will affect the market .
support line : 75.70 , 74.41
resistance line : 78.00 , 78.83
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
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