US Crude Oil 4H :above 91.00 will be continue at the bullish
USOIL
OUTLOOK
Technical Abstract :
The price perfectly fulfills my last idea, and we got a profit about 100 PIP and then the price back off to visit support line.
Now , Oil price resumes its positive trading to continue chasing the first positive target, which now rises to 93.50, which represents the resistance of the main ascending channel that appears in the chart, noting that the price movement within the ascending secondary channel supports the chances of exceeding the mentioned level and then opening the way to achieving additional gains. Up to 95.00.
Therefore, the upward trend scenario will remain likely for the coming period, keeping in mind that breaking 91.00 will stop the expected rise and put pressure on the price to begin a downward correction in the immediate term and will tries to visit the support line 88.04.
The expect range trading for today it will be between resistance line 93.50 and support line 90.80.
support line : 90.80 , 88.04
resistance line : 91.50 , 93.50
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OUTLOOK
Technical Abstract :
The price perfectly fulfills my last idea, and we got a profit about 100 PIP and then the price back off to visit support line.
Now , Oil price resumes its positive trading to continue chasing the first positive target, which now rises to 93.50, which represents the resistance of the main ascending channel that appears in the chart, noting that the price movement within the ascending secondary channel supports the chances of exceeding the mentioned level and then opening the way to achieving additional gains. Up to 95.00.
Therefore, the upward trend scenario will remain likely for the coming period, keeping in mind that breaking 91.00 will stop the expected rise and put pressure on the price to begin a downward correction in the immediate term and will tries to visit the support line 88.04.
The expect range trading for today it will be between resistance line 93.50 and support line 90.80.
support line : 90.80 , 88.04
resistance line : 91.50 , 93.50
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
