USOIL - Focuses On Support
Updated
The price of oil is currently hovering around the $82.00 mark, awaiting the positive momentum needed to push it higher. We are expecting this rise to continue in the coming period, with a target of reaching the $82.77 level as the next significant milestone.
However, this expected upward movement will be contingent on maintaining support above the $81.89 level. If the price breaks below $81.89 and holds there, it will likely negate the anticipated rise and instead support a decline, potentially leading the price to drop to the $81.34 level. Thus, the key levels to watch are $81.89 and $81.34, which will determine the direction of oil prices in the near term.
However, this expected upward movement will be contingent on maintaining support above the $81.89 level. If the price breaks below $81.89 and holds there, it will likely negate the anticipated rise and instead support a decline, potentially leading the price to drop to the $81.34 level. Thus, the key levels to watch are $81.89 and $81.34, which will determine the direction of oil prices in the near term.
Note
The price broke through the resistance level of 82.77 and advanced to around 83.59. Should it break above this point, it is likely to reach 84.69. However, if it remains below 83.59, the price is expected to oscillate between this level and the support level of 82.77.
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with best learning
Be Stronger With us
THANKS for your support
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