US CRUDE OIL 4H : Under sell pressure
Updated
US CRUDE OIL
New forecast
The price of oil fell strongly yesterday to reach the 74.40 areas, and rebounded from it strongly and returned to above the 75.70 level, and we are likely to resume the bearish tendency to achieve negative goals that begin with a break and stability below 75.70 to reach the 74.40 level again, and extend to 72.90 after breaking the previous level. so stabilized under 74.40 level then our targets will be activate .
Therefore, we expect to witness new negative trading during the coming sessions, taking into account that breaching 78.83 will stop the expected decline and lead the price to begin recovery attempts in the immediate and short term.
The expected trading range for today is between support 72.90 and resistance 78.83.
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 75.70 , 74.40
resistance line : 78.00 , 78.83
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New forecast
The price of oil fell strongly yesterday to reach the 74.40 areas, and rebounded from it strongly and returned to above the 75.70 level, and we are likely to resume the bearish tendency to achieve negative goals that begin with a break and stability below 75.70 to reach the 74.40 level again, and extend to 72.90 after breaking the previous level. so stabilized under 74.40 level then our targets will be activate .
Therefore, we expect to witness new negative trading during the coming sessions, taking into account that breaching 78.83 will stop the expected decline and lead the price to begin recovery attempts in the immediate and short term.
The expected trading range for today is between support 72.90 and resistance 78.83.
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 75.70 , 74.40
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 ❤️
Note
USOILUPDATE
our last idea still active and we continue expect the downward scenario will be remain valid for coming period ,
Additionally ,Today News will affect on the market .
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