USOIL - Facing Downtrending
Actualizado
Generally, the direction is downtrend.
Downtrend Side: Oil prices closed yesterday's trading below $76.42, encountering increased downward pressure and moving toward negative targets, beginning with a test of $74.70. A break below this level could further extend the bearish trend towards $72.88, followed by $71.60 as additional downside targets.
Uptrend Side: A break above $76.86 would halt the current downward pressure, leading the price to rise again toward $78.57.
Tendency Keys: 74.70
Downtrend Side: Oil prices closed yesterday's trading below $76.42, encountering increased downward pressure and moving toward negative targets, beginning with a test of $74.70. A break below this level could further extend the bearish trend towards $72.88, followed by $71.60 as additional downside targets.
Uptrend Side: A break above $76.86 would halt the current downward pressure, leading the price to rise again toward $78.57.
Tendency Keys: 74.70
Operación cerrada: objetivo alcanzado
Still, the USOIL price tries to break the support of 74.70 and stabilizes under it.
target: 72.88
target: 71.69
Operación cerrada: objetivo alcanzado
U.S. oil prices fall more than 2% on reports OPEC+ will move ahead with a planned output hike
Oil prices slipped on Friday amid reports that OPEC+ would go ahead with a planned oil output hike in October.
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~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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