rakeshreddym

Oil Support and Resistance levels

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TVC:USOIL   CFDs sobre petróleo crudo WTI
US oil

US oil remains in a bearish trend below $77.40, with the 1-hour timeframe showing a swing that created a lower low, reinforcing the downward momentum. Immediate support is identified at $74, with a weaker support level around $75. Turning points support to watch are $75.50 and $74.10, while resistances are at $76.50 and $77.40. A change of character to bullish would only be considered if the $77.40 level is violated. For intraday trading, zooming into lower timeframes 3 or 5 minutres and observing price action around these key support and resistance levels is crucial. Look for signs of rejection or breakout to determine potential entry and exit points.






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75 area acted as support and held rejected there went to testa 76.50 area resistance
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long entry
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Operación cerrada: objetivo alcanzado:
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Oil breached above 78.60
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77.40 crucial support
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H&S failed right shoulder got voilated bullish momemtum here
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Operación cerrada: objetivo alcanzado:

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