Brent Crude Oil🛢️Outlook: Navigating The Next Huge Move (4H)Brent Crude Oil Forecast 🛢️ TVC:UKOIL
Just like we called it earlier, the price dropped from 82.00 to 79, hitting our Take Profit sweet spot.
Now, even though the price popped above 81, it couldn't make higher high, and it's chilling below the 100-day moving average on the 4-hour chart.
Looks like we might see it slide back from 81.50 - 82.00 to 80. If 80 can't hold its ground, we might be looking at a dip to the 77 zone. On the flip side, if it manages to break above 83, we could be in for a bullish ride.
Quick heads up: Keep your eyes peeled for any surprise moves, especially with the OPEC meeting on November 30, 2023, and the ongoing tension between Palestine and Israel.
Key Levels:
Support lines: 79.00 & 76.00
Resistance lines: 83.00 & 84.64
Drop your thoughts in the comments below. Appreciate your take on this! Thanks! 🚀
