Price has been growing in an ascending channel since price hit low @ $67.68 on December 13th, 2023. Fundamentals reported two weeks ago revealed that the Iraq refinery has been re-opened since its closure more than 10 years ago and that meant more supplies which fell the oil price from $78.69 to $75.73
The following week was met with USOIL demand where buyers picked the price from the $75.73 all the way up to $80.3 by the end of last week's market closing.
What do i expect this week??
I expect the USOIL price to retest the support and liquidity zone at $78.24 and with this holding, price could drive up to $81.95 that is if the support holds.
My Support is $78.240 and target is $81.95
The following week was met with USOIL demand where buyers picked the price from the $75.73 all the way up to $80.3 by the end of last week's market closing.
What do i expect this week??
I expect the USOIL price to retest the support and liquidity zone at $78.24 and with this holding, price could drive up to $81.95 that is if the support holds.
My Support is $78.240 and target is $81.95
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.