US Crude Oil 4H :Downtrend under 82.00

USOIL

New forecast

The price perfectly fulfills my last idea and price reached to our first target .


The oil price shows further strong decline to reach the verge of the new expected negative target at 82.00, and is under continuous negative pressure that makes us likely to exceed this level and open the way for more losses in the immediate and short term, heading towards visiting the 80.56 and then 79.10 areas as next negative targets.

Hence, the downward trend scenario will remain likely for the coming period, keeping in mind that failure to break the 82.00 level will lead the price to attempt to recover and build an ascending wave targeting testing the 84.81 level initially.

The expected trading range for today is between support 82.00 and resistance 84.81 until breaching one of them .

Additionally ,Today News will affect the market .

support line : 82.00 , 80.56
resistance line : 84.81 , 86.17

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