OIL : Price Is Testing A Critical ZONE

BRENT CRUDE OILTVC

Description

⋅ Jan 24, 2023 2:51 PM

[B]OIL : Price Is Testing A Critical ZONE

The price has been trading below 88 since mid-November 2022.

Over the last week, we can see that it is finally testing 88 again and
it seems that this area turned into very strong resistance and
decisive for the new direction of the price.

If the price manages to break 88 this time, it will find more
buyers to support the bullish move.

As long as the price will develop below 88 sellers will still have
control over price direction.

Thanks and good luck!

Trade closed: target reached

⋅ Feb 1, 2023 10:35 AM

Comments

Lingrid

⋅ Jan 25, 2023 11:36 AM

Awesome

transparent-fx

⋅ Jan 25, 2023 5:49 AM

Great analysis. Thanks for sharing your valuable knowledge.

Williamforex

⋅ Feb 2, 2023 8:38 AM

very possible

CryptoCheck-

⋅ Feb 2, 2023 7:02 AM

Two very likely scenarios indeed, thanks Cuni

Gold-Tech

⋅ Feb 1, 2023 6:38 PM

Interesting. Competent analysis. Thank you

RLinda

⋅ Feb 1, 2023 6:14 PM

Thanks for the post. Great analysis.

ProjectSyndicate

⋅ Feb 1, 2023 2:15 PM

need more setups just like this

myfuad

⋅ Jan 25, 2023 12:52 PM

None stop dropping... No pullback.... Gone already...

D_Virtual

⋅ Jan 25, 2023 11:43 AM

i doubt price will further go them if it retrace but like you said let's see what the market gonna do

KlejdiCuni

⋅ Jan 25, 2023 12:36 PM

@D_Virtual, the bearish volume is still high and also NaturalGAS moved down last night. So the chances are very high that we can see OIL moving down. But it's not an easy scenario at all.