US Crude oil 4H:retest and then rise up
US OIL
New forecast
The price perfectly fulfills my last idea and price reached to our target +170 pip .
The price of oil failed to penetrate the level of 85.71 after the strong rise that occurred last Friday due to the war, and it rebounded from it to return to the selling pump again, which maintains its cohesion in the face of negative pressures so far by exceeding the level of 83.24, so that the bullish trend scenario remains valid for the coming period, waiting for the target to be exceeded. 85.71 to achieve additional gains of up to 86.34, and by exceeding it, it will reach 87.72.
Therefore, we expect the upside trend to continue to be preferred in the near term due to the war between Israel and Palestine, taking into account that stability under 83.24 will stop the expected rise and put pressure on the price to resume the downward correction, which is its next main target. At 82.00 so now it is possible to do correction to 83.24 and then rise up 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 .
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 ❤️
New forecast
The price perfectly fulfills my last idea and price reached to our target +170 pip .
The price of oil failed to penetrate the level of 85.71 after the strong rise that occurred last Friday due to the war, and it rebounded from it to return to the selling pump again, which maintains its cohesion in the face of negative pressures so far by exceeding the level of 83.24, so that the bullish trend scenario remains valid for the coming period, waiting for the target to be exceeded. 85.71 to achieve additional gains of up to 86.34, and by exceeding it, it will reach 87.72.
Therefore, we expect the upside trend to continue to be preferred in the near term due to the war between Israel and Palestine, taking into account that stability under 83.24 will stop the expected rise and put pressure on the price to resume the downward correction, which is its next main target. At 82.00 so now it is possible to do correction to 83.24 and then rise up 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 .
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 ❤️
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