West Texas Oil

Resistance in Focus: Will Oil Prices Reverse or Fall Again?

124
● Oil prices have been trending downward through a parallel channel. However, a crucial support zone near $70.6 has provided a rebound, sparking hopes of a potential recovery.
● Currently, the price is testing its trendline resistance, a critical level that will determine the next move. A breakthrough above this level could signal a reversal in the oil market.
● On the other hand, if the price fails to clear this level, it may indicate that the downward pressure is still too strong, and another leg down is possible.

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.