Oil Price Update – Clean & Clear ExplanationOil (1-hour timeframe) analysis focused on a potential sell (short) opportunity. Price is currently trading around 59.40, inside a marked supply zone where previous selling pressure has appeared.
A possible scenario is illustrated:
• Price may push slightly higher into the upper part of the supply zone.
• After that small pullback or retest, the expectation is a downward move.
• The projected sell-off extends toward two key target zones:
Target Points;
1. First target area around 58.50
2. Final target area near 57.50,
Overall, the chart communicates a clean retest-and-drop structure, expecting price to react bearishly from supply and continue downward toward the next major support.
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