US CRUDE OIL 4H : Under sell pressure
Updated
US CRUDE OIL
New forecast
The price of oil fell and was unable to stabilize for long above the 77.97 level, ending yesterday’s trading with strong negativity, which places the price under expected negative pressure during the coming sessions, targeting to test the 74.41 level initially, noting that breaking this level will push the price to the 72.90 levels.
Therefore, a bearish bias will be likely for today, and moving average 50 continues to support the price to drop , keeping in mind that breaching 78.00 will stop the expected negative pressure and lead the price to begin new recovery attempts.
The expected trading range for today is between support 74.41 and resistance 78.00 until stabilized .
Additionally ,Today News will affect the market .
support line : 74.41 , 72.90
resistance line : 76.92 , 78.00
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New forecast
The price of oil fell and was unable to stabilize for long above the 77.97 level, ending yesterday’s trading with strong negativity, which places the price under expected negative pressure during the coming sessions, targeting to test the 74.41 level initially, noting that breaking this level will push the price to the 72.90 levels.
Therefore, a bearish bias will be likely for today, and moving average 50 continues to support the price to drop , keeping in mind that breaching 78.00 will stop the expected negative pressure and lead the price to begin new recovery attempts.
The expected trading range for today is between support 74.41 and resistance 78.00 until stabilized .
Additionally ,Today News will affect the market .
support line : 74.41 , 72.90
resistance line : 76.92 , 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 ❤️
Trade closed: target reached
US CRUDE OIL The price perfectly fulfills my last idea and price reached to our first target +200 pip and still running .
Trade closed: target reached
US CRUDE OIL
New forecast
The price perfectly fulfills my last idea and price reached to our targets + 330 pip .
The price of oil begins today’s trading with an additional decline to touch our expected target at 72.90 and exert negative pressure on it in an attempt to break it, to support the chances of the continuation of the downward wave in the immediate and short term, paving the way for heading towards the 72.19 level, which represents our next negative target and extends to 71.00.
Therefore, we continue to favor the downward trend for the coming period, supported by the negative pressure formed by the moving average 50, keeping in mind that the consolidation of the 74.41 level in the face of the current negative pressure will lead the price to begin recovery attempts and build an upward wave.
The expected trading range for today is between support 71.00 and resistance 74.41 until stabilized .
support line : 72.19 , 71.00
resistance line : 74.41 , 76.92
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Trade active
Trade closed: target reached
US OIL The price perfectly fulfills my last idea and price reached to our first target +140 pip .
Trade closed: target reached
US CRUDE OIL
UPDATE
The price perfectly fulfills my last idea and price reached to our first target +150 pip and still running .
The price of oil fell yesterday and reached our expected target at 72.19 to break it and hold below it. Therefore, there is no change to the expected bearish trend scenario for today and our target will be 71.00 level and extend to 70.00 level
Therefore the downward scenario will be remain valid and effective during coming period , supported by moving average 50 that is continue to support the price to decline .for reminder that the bearish waves depends on stability below the 72.90 level.
The expected trading range for today is between support 70.00 and resistance 72.90 until stabilized .
Additionally ,Today News will affect on the market.
support line : 71.00 , 70.00
resistance line : 72.90 , 74.41
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
US CRUDE OIL
UPDATE
The price perfectly fulfills my last idea and price reached to our Third targets +160 pip .
The price of oil fell and succeeded in achieving our extended target at 70.00 and breaking it to close the daily candle below it, reinforcing expectations that the bearish trend will continue to dominate in the immediate and short term, heading towards targeting the 69.00 areas and extending to 67.43 mainly.
Therefore, the downward trend scenario will remain active and regular within the downward channel that appears in the chart, supported by the negative pressure formed by the moving average 50, keeping in mind that breaching 71.00 will stop the current negative pressure and push the price to begin recovery attempts.
The expected trading range for today is between support 67.43 and resistance 71.00 until stabilized .
Additionally ,Today News will affect on the market.
support line :69.00 , 67.43
resistance line : 71.00 , 72.90
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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