WTI Oil trying to recover
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WTI Oil 4H NEW FORECAST
The price of oil is showing more upward tendency to approach the pivotal resistance at 79.50, which represents one end of the sideways range that dominates the recent trading, in addition to the support at 77.64, where we still expect the sideways tendency to dominate the intraday trading until the price is able to exceed one of these two levels. Then determine his next destination more clearly.
We note that breaching the resistance will lead the price to achieve additional gains up to 80.32as the next positive station, while breaking the support will put pressure on the price to incur new losses and target the 76.89 areas in the near term.
Pivot Line : 78.32
Resistance Line : 79.50 , 80.32, 81.19
Support Line : 76.89 , 76.00 , 75.05
WTI Oil 4H NEW FORECAST
The price of oil is showing more upward tendency to approach the pivotal resistance at 79.50, which represents one end of the sideways range that dominates the recent trading, in addition to the support at 77.64, where we still expect the sideways tendency to dominate the intraday trading until the price is able to exceed one of these two levels. Then determine his next destination more clearly.
We note that breaching the resistance will lead the price to achieve additional gains up to 80.32as the next positive station, while breaking the support will put pressure on the price to incur new losses and target the 76.89 areas in the near term.
Pivot Line : 78.32
Resistance Line : 79.50 , 80.32, 81.19
Support Line : 76.89 , 76.00 , 75.05
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