US Crude Oil 4H : New forecast
Updated
USOIL
New forecast
The price of oil traded with noticeable negativity in the past sessions, and the day begins with an additional decline to break the support of the main ascending channel followed by the 88.30 level, which provides indications that the price is heading to return to the downward corrective path again, but we note that the technical indicators provide positive signals that may contribute to pushing the price to recover from... new.
Therefore, the conflict between technical factors makes us remain neutral until we get a clearer signal for the next trend, noting that stability below the support level 87.72 will put pressure on the price to conduct a new downward correction whose main targets start at 86.34 and 84.81, while breaching the resistance 88.30 represents the key to recovery. The main bullish trend is heading towards visiting 89.54 and then 91.53 levels as next positive stations.
The expected trading range for today is between support 86.34 and resistance 88.30 until breaching one of them .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 86.34 , 84.81
resistance line : 87.72 , 88.31
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New forecast
The price of oil traded with noticeable negativity in the past sessions, and the day begins with an additional decline to break the support of the main ascending channel followed by the 88.30 level, which provides indications that the price is heading to return to the downward corrective path again, but we note that the technical indicators provide positive signals that may contribute to pushing the price to recover from... new.
Therefore, the conflict between technical factors makes us remain neutral until we get a clearer signal for the next trend, noting that stability below the support level 87.72 will put pressure on the price to conduct a new downward correction whose main targets start at 86.34 and 84.81, while breaching the resistance 88.30 represents the key to recovery. The main bullish trend is heading towards visiting 89.54 and then 91.53 levels as next positive stations.
The expected trading range for today is between support 86.34 and resistance 88.30 until breaching one of them .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 86.34 , 84.81
resistance line : 87.72 , 88.31
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
USOIL
New forecast
The price perfectly fulfills my last idea
and price reached to our first target and reached to near the second target + 130 pip .
The oil price achieved a strong break of our target of 86.34 and settled below it, returning to the downward corrective path and heading towards achieving negative targets that begin by visiting the 84.81 areas, supported by a move below the moving average of 50.
Therefore, we expect to witness further decline in the immediate term, which may be preceded by some temporary sideways fluctuation, taking into account that breaching the 86.34 level will stop the negative scenario and lead the price to attempt an intraday upward correction to reach 87.72 again.
The expected trading range for today is between support 84.81 and resistance 86.34 until breaching one of them .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
Additionally ,Today News will affect the market .
support line : 84.81, 83.24
resistance line : 876.34 , 87.72
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
USOIL
New forecast
The price perfectly fulfills my last idea and price reach to our second target + 280 pip and still on the way to the third target.
Oil price trading stabilizes below the level of 84.81 after the strong decline witnessed yesterday, and we are likely to break the level of 83.23 to open the way for a continuation of the downward correction during the coming sessions, remembering that our next targets reach 82.00 and by breaking it 80.56.
Moving average 50 continues to support the proposed bearish wave, taking into account that failure to break 83.24 will push the price to correct to 84.81.
The expected trading range for today is between support 82.00 and resistance 84.81 until breaching one of them .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
Additionally ,Today News will affect the market .
support line : 83.24 , 82.00
resistance line : 84.81 , 86.34
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
USOIL
New forecast
The price perfectly fulfills my last idea and price reached to our target +140 pip .
The price of oil found strong support at the 82.00 level, to bounce upward and head towards an attempt to recover in the immediate term and then returned to below 84.81,
Therefore, a bearish bias will be likely for today as long as the price trades below the 84.81 level to reach 83.24, and by breaking it, it will extend to 82.00, taking into account that crossing the 86.34 level will put pressure on the price to rise again.
The expected trading range for today is between support 82.00 and resistance 86.34 until breaching one of them .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
Additionally ,Today News will affect the market .
support line : 83.24 , 82.00
resistance line : 84.81 , 86.34
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
USOIL The price perfectly fulfills my last idea and price reached to our target + 180 pip.
Trade closed: target reached
USOIL
New forecast
The price perfectly fulfills my last idea and price reached to our target +180 pip
The price of oil found strong support at the 82.00 level, to bounce upward and head towards an attempt to recover in the immediate term and then returned to below 84.81,
Therefore, we are continue prefer a bearish bias will be likely for today but to confirm the bearish trend it should the price trades under the 84.81 level and then the price will reach to 83.24, and by breaking it, it will extend to 82.00, taking into account that crossing the 86.34 level will put pressure on the price to rise again.
The expected trading range for today is between support 82.00 and resistance 86.34 until breaching one of them .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
Additionally ,Today News will affect the market .
support line : 83.24 , 82.00
resistance line : 84.81 , 86.34
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
US CRUDE OIL The price perfectly fulfills my last idea and price reached to our first target +170 pip
and then rebounded because of the war between Palestine and Israel and we will see more bullish during coming days .
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