US Crude OIL 4H : Try to retest and then rise up

2023년 10월 20일

USOIL

New forecast

The price of oil rose strongly yesterday to exceed the 88.31 level and return to the ascending channel, heading towards achieving more expected gains during the coming period, on its way to visiting the 90.40 and then 91.53 levels as next positive targets.

Therefore, the upward trend scenario will remain valid and effective for the coming period, influenced by the previously completed double bottom pattern, while paying attention to the importance of stability above the 88.30 level for the continuation of the expected rise.

The expected trading range for today is between support 88.30 and resistance 91.53 until breaching one of them .

Be careful because of the war between Palestine and Israel, we may witness unexpected movements .


support line : 88.30 , 87.72
resistance line : 90.40 , 91.53

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