UK Brent Oil 4h : support further rise
Updated
UK BRENT OIL
New forecast
The price perfectly fulfills my last idea.
Brent crude futures price trades rebounded downward after failing to overcome the resistance that was formed at the previously broken support of the main ascending channel at 91.01, putting pressure on the 89.52 level and moving above it now, which pushes the price to return to the upward path again, on its way to achieving positivity goals starting at 91.01 and extending. To 92.52 after breaking the previous level.
Therefore, we expect to witness further rise during the coming sessions, noting that breaching 89.52 and holding below it will push the price to losses again, starting with testing the 88.36 areas.
The expected trading range for today is between support 88.36 and resistance 91.00 until breaching one of them .
Additionally ,Today News will affect the market .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 89.52 , 88.36
resistance line : 91.00 , 92.52
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecast
The price perfectly fulfills my last idea.
Brent crude futures price trades rebounded downward after failing to overcome the resistance that was formed at the previously broken support of the main ascending channel at 91.01, putting pressure on the 89.52 level and moving above it now, which pushes the price to return to the upward path again, on its way to achieving positivity goals starting at 91.01 and extending. To 92.52 after breaking the previous level.
Therefore, we expect to witness further rise during the coming sessions, noting that breaching 89.52 and holding below it will push the price to losses again, starting with testing the 88.36 areas.
The expected trading range for today is between support 88.36 and resistance 91.00 until breaching one of them .
Additionally ,Today News will affect the market .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 89.52 , 88.36
resistance line : 91.00 , 92.52
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
UK Brent Oil
New forecast
The price perfectly fulfills my last idea and price reach to our second target +230 pip and still running .
The price of Brent crude futures rose strongly after reaching the expected second positive target at 92.52, to penetrate the 91.00 level and reach the broken support of the ascending channel, noting that the price begins the day with more positivity to try to return to this channel, which indicates the price’s direction to restore the trend. The main bullish trend is heading to achieve new gains up to 94.00 and then 95.50.
Therefore, we expect to witness further rise during the coming sessions, supported by the 50 moving average that carries the price from below, taking into account that failure to consolidate above 92.50 will postponed the positive scenario and will start a correction to 91.00 and then rise up .
The expected trading range for today is between support 94.00 and resistance 91.00 until breaching one of them .
Additionally ,Today News will affect the market .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 91.00 , 89.52
resistance line : 92.50 , 94.00
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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