The 60-62 levels will represent strong price resistance. U.S. Oil Inventories Data To Be Released on Friday If stocks rise more than expected, we will see prices fall below 60 levels.
in general, Breaking of 58.65 price level price is short-lived and supports the start of the oil price drop.
As we note the drop in oil prices on September 17, to 51 level on the 3rd of the past October.
The current rise did not make up for the decline recorded by about 77 candels. This supports the current movement of upward correction and we are preparing for a downward trend over the next year.