US Crude Oil 4H : Uptrend above 86.34
USOIL
New forecasts
The price perfectly fulfills my last idea and price reached to our target + 100 pip .
The price of oil rose strongly to breach the 84.81 level and stop the bearish corrective scenario, heading towards recovery and achieving expected gains during the coming period, as positive targets begin to test the 87.72 level.
Therefore, the upward bias will be likely for today but to confirm that should stable above 86.34 and then will support the price, and we note that the price is forming a positive pattern that supports the chances of exceeding the mentioned target and achieving further rise in the immediate and short term and heading towards 87.72 and 89.52, taking into account that breaking 84.81 will stop the positive scenario and put pressure on the price to decline again.
The expected trading range for today is between support 84.81 and resistance 87.72 until breaching one of them .
Additionally ,Today News will affect the market .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 84.81 , 83.24
resistance line : 86.34 , 87.72
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecasts
The price perfectly fulfills my last idea and price reached to our target + 100 pip .
The price of oil rose strongly to breach the 84.81 level and stop the bearish corrective scenario, heading towards recovery and achieving expected gains during the coming period, as positive targets begin to test the 87.72 level.
Therefore, the upward bias will be likely for today but to confirm that should stable above 86.34 and then will support the price, and we note that the price is forming a positive pattern that supports the chances of exceeding the mentioned target and achieving further rise in the immediate and short term and heading towards 87.72 and 89.52, taking into account that breaking 84.81 will stop the positive scenario and put pressure on the price to decline again.
The expected trading range for today is between support 84.81 and resistance 87.72 until breaching one of them .
Additionally ,Today News will affect the market .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 84.81 , 83.24
resistance line : 86.34 , 87.72
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
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