US Crude Oil 4H : Under sell pressure
Updated
USOIL
New forecast
The price of oil fell below the level of 82.00, which constitutes important support, to support the chances of exceeding the mentioned level and opening the way for an additional bearish correction whose next target reaches 80.56, and by breaking it, it will reach 78.64.
Therefore, the downward trend scenario will be remain valid we expect to witness further declines during the coming sessions supported by moving average 50 that is continues to support the price to decline ,taking into account that breaching 83.24 will stop the proposed downward trend and lead the price to attempt to restore the main upward trend again. so stabilized under 82.00 our targets will be activate .
The expected trading range for today is between support 80.56 and resistance 83.24 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 : 82.00 , 80.56
resistance line : 83.24 , 84.72
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 of oil fell below the level of 82.00, which constitutes important support, to support the chances of exceeding the mentioned level and opening the way for an additional bearish correction whose next target reaches 80.56, and by breaking it, it will reach 78.64.
Therefore, the downward trend scenario will be remain valid we expect to witness further declines during the coming sessions supported by moving average 50 that is continues to support the price to decline ,taking into account that breaching 83.24 will stop the proposed downward trend and lead the price to attempt to restore the main upward trend again. so stabilized under 82.00 our targets will be activate .
The expected trading range for today is between support 80.56 and resistance 83.24 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 : 82.00 , 80.56
resistance line : 83.24 , 84.72
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 reached to our first negative target + 150 pip .
The price of oil fell during yesterday's trading and the price reached our first awaited target at 80.56, and finds strong support there to show some slight upward bias, waiting for the resumption of negative trading to break this level and open the way to heading towards the next corrective target that reaches 78.64.
Therefore, the downward trend scenario will remain in place for the coming period, supported by the negative pressure formed by the moving average 50, keeping in mind that failure to break 81.56 and hold above 82.00 may push the price to test the 84.55 areas before any new attempt to decline.
The expected trading range for today is between support 80.56 and resistance 83.24 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 : 80.56 , 78.64
resistance line : 82.00 , 83.24
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 OILUPDATE
The price perfectly fulfills my idea and reached our profit and still running + 70 pip. so if you want put sl at entry or close it with profit .
now to be continue at the bearish trend should stable under 80.56 and then will reach to another targets .
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