US CRUDE OIL 4H : Downward
USOIL
New forecast
The rise in the price of oil stopped at the resistance of the descending channel that appears in the chart, to rebound downwards and settle below the 72.90 level, awaiting stability below the 72.19 level to resume the main downward trend, heading towards achieving negative targets starting at 71.00 and extending far to 69.15.
From here, a bearish bias will be likely for today, keeping in mind that breaching 74.41 levels will then stop the expected decline and lead the price to turn higher.
The expected trading range for today is between support 69.15 and resistance 74.41 until stabilized .
Additionally ,Today News will affect on the market .
support line : 71.00 , 69.15
resistance line : 72.19 , 74.41
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New forecast
The rise in the price of oil stopped at the resistance of the descending channel that appears in the chart, to rebound downwards and settle below the 72.90 level, awaiting stability below the 72.19 level to resume the main downward trend, heading towards achieving negative targets starting at 71.00 and extending far to 69.15.
From here, a bearish bias will be likely for today, keeping in mind that breaching 74.41 levels will then stop the expected decline and lead the price to turn higher.
The expected trading range for today is between support 69.15 and resistance 74.41 until stabilized .
Additionally ,Today News will affect on the market .
support line : 71.00 , 69.15
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 ❤️
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