Oil broke through the previous high today, and the previous resistance point turned into a support point. As long as oil remains above 80, it will be an upward trend.
Yesterday, the U.S. Energy Information Administration (EIA) predicted that U.S. crude oil production will increase by 460,000 barrels per day by 2024, reaching 13.65 million barrels per day. EIA also predicts that the price of WTI crude oil will reach US$82.15/barrel by 2024, while the price of Brent crude oil will reach US$87/barrel.
I used to think that oil was oscillating within the range, but it has broken through today. Under the upward trend, the success rate of buying at the support level is very high.
Join me, follow my ideas, improve your trading success rate, and make your trading no longer confused.
Yesterday, the U.S. Energy Information Administration (EIA) predicted that U.S. crude oil production will increase by 460,000 barrels per day by 2024, reaching 13.65 million barrels per day. EIA also predicts that the price of WTI crude oil will reach US$82.15/barrel by 2024, while the price of Brent crude oil will reach US$87/barrel.
I used to think that oil was oscillating within the range, but it has broken through today. Under the upward trend, the success rate of buying at the support level is very high.
Join me, follow my ideas, improve your trading success rate, and make your trading no longer confused.
Trade active
80 is the trend support level of oil. If it stands above 80 today, the probability of rising is greater than falling.Trade active
Oil is above 80, still an upward trendTrade active
Buying at the support point has started to make profitsNote
Have a happy weekend, I will continue to share next week, please check for my releases in timeNote
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Last week I reminded that as long as oil is above 80, it is still an upward trend. The current resistance of oil is 82.2-82.5,Important resistance is 85Trade closed: target reached
If you bought at the support point, you have now started to make profitsTrade closed: target reached
TPNote
The resistance point has almost been reached today, and the upward trend has been confirmed againNote
As I predicted yesterday, oil reached 82.5 and encountered resistance.Note
In an upward trend, wait for the appropriate support range to buy
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.