UK BRENT OIL 4H : Trying to land again
Updated
UK BRENT OIL
New forecast
The price of Brent crude futures succeeded in an upward correction after reaching the 76.57 level and rebounding from it. Let us favor the downward trend as long as the price is trading below the previously mentioned level to targeting the levels 74.00 and extend to 72.90 .
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 drop , taking into account that stabilized above 76.57 level will postponed the bearish waves and put the price under buy pressure .
The expected trading range for today is between support 71.82 and resistance 76.57 until stabilized .
support line : 74.00 , 71.82
resistance line : 76.57 , 78.87
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New forecast
The price of Brent crude futures succeeded in an upward correction after reaching the 76.57 level and rebounding from it. Let us favor the downward trend as long as the price is trading below the previously mentioned level to targeting the levels 74.00 and extend to 72.90 .
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 drop , taking into account that stabilized above 76.57 level will postponed the bearish waves and put the price under buy pressure .
The expected trading range for today is between support 71.82 and resistance 76.57 until stabilized .
support line : 74.00 , 71.82
resistance line : 76.57 , 78.87
Attention : We don't have any group in telegram be careful about scammer.
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Trade active
Trade closed: target reached
UK BRENT OILUPDATE
The price perfectly fulfills my last idea and price reached to our first target +130 pip, and still running .
if you want to hold put SL at entry .
Trade closed: target reached
UK BRENT OIL
Update
The price perfectly fulfills my last idea and price reached to our second targets + 240 pip and still running .
The price of Brent crude futures fell yesterday and continues to present negative trades to test the 72.90 barrier, which supports the continuation of the expected bearish wave in the immediate and short term, and we believe that the way is open to visiting the 71.82 and 70.80 levels as the next main targets.
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 , also the price trade in the descending channel .While breaching 74.10 will stop the current negative pressure and lead the price to make some upward intraday correction.
The expected trading range for today is between support 70.80 and resistance 74.10 until stabilized .
Additionally ,Today News will affect on the market .
support line : 72.90 , 71.82
resistance line : 74.10 , 76.57
Attention : We don't have any group in telegram be careful about scammer.
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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