US C rude Oil 4H : 86.34 supported to rise up
Updated
USOIL
New forecast
The price perfectly fulfills my last idea and we profit about + 130 pip .
The price of oil was unable to return to the main ascending channel, as it found strong resistance near the 88.31 level, which forced the price to rebound and correct downwards to move towards resuming the bearish corrective trend again.
From here, the upward bias will be likely for today, provided that consolidation above 86.34 is important for the continuation of the expected rise and reaching 87.72 and 88.31, as a breach and stability below 86.34 will lead the price to attempt losses again and head to visit the 84.81 level initially.
The expected trading range for today is between support 86.34 and resistance 88.31 until breaching one of them .
Additionally ,Today News will affect the market .
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 ❤️
New forecast
The price perfectly fulfills my last idea and we profit about + 130 pip .
The price of oil was unable to return to the main ascending channel, as it found strong resistance near the 88.31 level, which forced the price to rebound and correct downwards to move towards resuming the bearish corrective trend again.
From here, the upward bias will be likely for today, provided that consolidation above 86.34 is important for the continuation of the expected rise and reaching 87.72 and 88.31, as a breach and stability below 86.34 will lead the price to attempt losses again and head to visit the 84.81 level initially.
The expected trading range for today is between support 86.34 and resistance 88.31 until breaching one of them .
Additionally ,Today News will affect the market .
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 second target +250 pip .
Oil price trades rebounded strongly upward after finding strong support formed by the 50 moving average in the face of the recent negative trading, to exceed the 88.30 level and attempt to return to the main ascending channel again, leading the price to achieve expected gains during the coming sessions, on its way to visit the 90.40 and then 91 levels. 53 as major positive stations.
Therefore, the upward bias will be likely for today, influenced by the double bottom pattern that appears on the chart also its possible to retest and then rise up , keeping in mind that trading below 87.72 again will put the price under negative pressure targeting testing the 86.34 level initially.
The expected trading range for today is between support 88.30 and resistance 90.40 until breaching one of them .
Additionally ,Today News will affect the market .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 88.30 , 87.72
resistance line : 89.52 , 90.40
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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