US CRUDE OIL 4H : Trying to land again
Updated
US CRUDE OIL
New forecast
The price of US crude futures succeeded in an upward correction after reaching the near to 72.90 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 69.00 and extend to 67.43.
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 72.90 level will postponed the bearish waves and put the price under buy pressure .
The expected trading range for today is between support 67.43 and resistance 72.90 until stabilized .
support line : 69.00 , 67.43
resistance line : 72.19 , 74.41
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New forecast
The price of US crude futures succeeded in an upward correction after reaching the near to 72.90 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 69.00 and extend to 67.43.
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 72.90 level will postponed the bearish waves and put the price under buy pressure .
The expected trading range for today is between support 67.43 and resistance 72.90 until stabilized .
support line : 69.00 , 67.43
resistance line : 72.19 , 74.41
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
US CRUDE OIL UPDATE
The price perfectly fulfills my last idea and price reached to our first target +160 pip, and still running .
if you want to hold put SL at entry .
Note
US CRUDE OIL
Update
The price perfectly fulfills my last idea and price reached to near to our second targets +160 pip and still running .
The price of oil continues to decline, reinforcing expectations of the continuation of the main bearish trend within the bearish channel that appears in the chart, with a reminder that we are waiting to visit the 66.61 level as a next main target. Breaking the target level will push the price to incur additional losses up to the 65.00 areas.
Therefore the downward scenario will be remain valid and effective during coming period , moving average 50 supports the continuation of the proposed bearish wave, keeping in mind that breaching 69.15 and holding above it will stop the expected decline and push the price to attempt to build the bullish waves in the immediate term.
The expected trading range for today is between support 65.00 and resistance 71.00 until stabilized .
Additionally ,Today News will affect on the market .
support line : 67.43 , 66.61
resistance line : 69.15 , 71.00
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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