US Crude OIL 4H :Oil price shows weak trading
Updated
USOIL
New forecast
The price of oil has been fluctuating around the 86.50 level since yesterday, and is under continuous negative pressure to support the chances of continuing the expected downward trend for the coming period, whose next target is at 84.81.
From here, we continue to favor the downward trend in the immediate term, and breaking the target level will extend the downward corrective wave to reach 83.24 and 82.00, while the expected decline will remain in place unless the 87.72 level is breached and holds above it.
The expected trading range for today is between support 84.81 and resistance 86.56 until breaching one of them .
Additionally ,Today News will affect the market .
support line : 84.81 , 83.24
resistance line : 86.56 , 87.72
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 has been fluctuating around the 86.50 level since yesterday, and is under continuous negative pressure to support the chances of continuing the expected downward trend for the coming period, whose next target is at 84.81.
From here, we continue to favor the downward trend in the immediate term, and breaking the target level will extend the downward corrective wave to reach 83.24 and 82.00, while the expected decline will remain in place unless the 87.72 level is breached and holds above it.
The expected trading range for today is between support 84.81 and resistance 86.56 until breaching one of them .
Additionally ,Today News will affect the market .
support line : 84.81 , 83.24
resistance line : 86.56 , 87.72
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Trade closed: target reached
USOIL
New forecast
The price perfectly fulfills my last idea and price reached our target + 145 pip .
The oil price confirmed breaking the 84.81 level after ending yesterday’s trading below it, but since the morning the oil price has been trading with noticeable positivity to test the pivotal resistance 84.81, but stabilized below 84.81 support the continuation of the bearish corrective trend, whose next target is at 83.24.
Breaking the target level will pressure the price to incur additional losses up to 82.00, taking into account that breaching 84.81 will stop the current negative pressure and lead the price to begin recovery attempts in the intraday term.
The expected trading range for today is between support 82.00 and resistance 84.81 until breaching one of them .
Additionally ,Today News will affect the market .
support line : 83.24 , 882.00
resistance line : 884.81 , 86.34
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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