US Crude Oil 4H :Uptrend above 89.50
USOIL
OUTLOOK
Oil prices rose in trading today, Thursday, to nearly the highest level in 10 months
Technical abstract:
Now after Oil price confirmed the breach of the 88.04 level the price tried to formed the correction to get a positive impulse again , resuming the main upward trend, organized within the ascending channels that appear in the chart above, waiting to visit the 89.50 level as a next stop, noting that breaching this level will push the price to 91.65 as the next main target.
Therefore, we expect to witness further rise during the coming sessions, keeping in mind that breaking 88.04 will stop the positive scenario and put pressure on the price to begin a downward correction in the immediate term before returning to the rise again.
support line : 88.04 , 84.81
resistance line : 89.50 , 91.65
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OUTLOOK
Oil prices rose in trading today, Thursday, to nearly the highest level in 10 months
Technical abstract:
Now after Oil price confirmed the breach of the 88.04 level the price tried to formed the correction to get a positive impulse again , resuming the main upward trend, organized within the ascending channels that appear in the chart above, waiting to visit the 89.50 level as a next stop, noting that breaching this level will push the price to 91.65 as the next main target.
Therefore, we expect to witness further rise during the coming sessions, keeping in mind that breaking 88.04 will stop the positive scenario and put pressure on the price to begin a downward correction in the immediate term before returning to the rise again.
support line : 88.04 , 84.81
resistance line : 89.50 , 91.65
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
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