Crude Oil: Testing Resistance Amid Bearish Momentum
Crude Oil Update (1-Hour Timeframe)
Chart Overview: Crude Oil is trading within a downward channel, respecting the resistance trendline, which aligns with the 50 EMA, signaling sustained bearish momentum.
The price attempted a breakout but faced rejection at the resistance, confirming the downtrend. The support zone near 6,420 has held well but remains under pressure.
Key Levels:
Resistance: 6550 - 6570
Support: 6420 - 6400
Bearish Target: 6350 - 6300 (if support breaks)
Strategy:
Monitor for a breakout or rejection at the trendline for directional confirmation. A move below 6,420 signals further downside, while a breakout above 6,550 may reverse the trend.
Risk Management: Maintain a stop-loss below the triangle's lower boundary for long positions and above the upper boundary for short positions.
Disclaimer: This technical analysis is for informational purposes only and does not constitute financial advice. Always trade responsibly and manage your risks effectively.
Chart Overview: Crude Oil is trading within a downward channel, respecting the resistance trendline, which aligns with the 50 EMA, signaling sustained bearish momentum.
The price attempted a breakout but faced rejection at the resistance, confirming the downtrend. The support zone near 6,420 has held well but remains under pressure.
Key Levels:
Resistance: 6550 - 6570
Support: 6420 - 6400
Bearish Target: 6350 - 6300 (if support breaks)
Strategy:
Monitor for a breakout or rejection at the trendline for directional confirmation. A move below 6,420 signals further downside, while a breakout above 6,550 may reverse the trend.
Risk Management: Maintain a stop-loss below the triangle's lower boundary for long positions and above the upper boundary for short positions.
Disclaimer: This technical analysis is for informational purposes only and does not constitute financial advice. Always trade responsibly and manage your risks effectively.
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。