After months of being in the same range Crude Oil price made few big moves and now is back in the similar range (this time is extended to the local low point). Price is now testing uptrend line (green line) and if it is going to break it then the next support could be bottom of the range (66.49). If we se rejection from uptrend line then next stop could be 76.1 (red dashed line) , 77.57 (red dashed line) and downtrend line (red line). If that zone is broken next resistance zones are 78.89 (red dashed line) and top of the range (82.58)
This is not financial advice and I am not a financial advisor. It is important to do your own research and make your own opinion before getting into any trades or financial investments. You are responsible for all your trades and all win and lose results, so manage your risk according to your financial situation. Don't invest money which you are not ready to lose.
This is not financial advice and I am not a financial advisor. It is important to do your own research and make your own opinion before getting into any trades or financial investments. You are responsible for all your trades and all win and lose results, so manage your risk according to your financial situation. Don't invest money which you are not ready to lose.
Trade active:
Price bounced from the uptrend line. If it manages to stay above it then next stop could be 76.1 (red dashed line) , 77.57 (red dashed line) and downtrend line (red line). If that zone is broken next resistance zones are 78.89 (red dashed line) and top of the range (82.58). If it will go below uptrend line then the next support could be bottom of the range (66.49).