USOIL - LONG Term
Crude oil prices rose significantly during the first trading of the week on Monday after crude achieved weekly profits for the first time in 4 weeks at the end of last week, estimated at about 3%.
In this regard, the escalation of tensions in the Middle East region reinforced the rise in demand for crude oil in today's trading, amid increasing expectations of a decline in oil supplies in energy markets during the coming period.
Generally, the direction is uptrend
Uptrend Side: the oil price stabilized above 76.06 by closing the 1D candle above it, thus supporting the price to be in an uptrend toward 78.63.
Downtrend Side: The price should reverse and stabilize below 76.06 on the 4-hour candle. If this occurs, it is expected to decline further to 73.93.
Correction: The price is expected to decline to the support level of 76.06 as a correction, after which it is anticipated to begin a bullish trend.
Tendency Keys: 76.06
In this regard, the escalation of tensions in the Middle East region reinforced the rise in demand for crude oil in today's trading, amid increasing expectations of a decline in oil supplies in energy markets during the coming period.
Generally, the direction is uptrend
Uptrend Side: the oil price stabilized above 76.06 by closing the 1D candle above it, thus supporting the price to be in an uptrend toward 78.63.
Downtrend Side: The price should reverse and stabilize below 76.06 on the 4-hour candle. If this occurs, it is expected to decline further to 73.93.
Correction: The price is expected to decline to the support level of 76.06 as a correction, after which it is anticipated to begin a bullish trend.
Tendency Keys: 76.06
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With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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