USOIL/ Trade in Consolidation Zone
Oil prices slipped lower on Monday in thin holiday trade ahead of the year-end as traders awaited more economic data from China and the U.S. later this week to assess growth in the world’s two largest oil consumers.
Generally, the direction is consolidation
Summary: The price has been stable for an extended period between two strong zones: the upper range at 71.57 and 70.50, and the lower range at 68.61 and 66.96. A flat movement within these zones will leave us waiting for a breakout in either direction, either upwards or downwards.
The resistance at 70.50 may cause the price to decline sharply, potentially reaching 68.64 and further down to 67.84.
Bullish target: 71.57, 73.59
Bearish target: 67.84, 66.96
Generally, the direction is consolidation
Summary: The price has been stable for an extended period between two strong zones: the upper range at 71.57 and 70.50, and the lower range at 68.61 and 66.96. A flat movement within these zones will leave us waiting for a breakout in either direction, either upwards or downwards.
The resistance at 70.50 may cause the price to decline sharply, potentially reaching 68.64 and further down to 67.84.
Bullish target: 71.57, 73.59
Bearish target: 67.84, 66.96
about 4 Analysis per day.
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With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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