Crude Oil Technical Analysis ( 6th AUG)

Triangle pattern

Current Outlook: Consolidation

Crude oil is currently trading sideways around the 6221 support level.

Potential Scenarios:

Bullish Breakout: A sustained move above the 6245 level could signal a bullish trend, with initial resistance at 6300.

Bearish Continuation: A breakdown below the 6210 support may lead to a retest of the 6135 level.

Trader Action: Closely monitor price action for a clear breakout signal to determine the next potential move.

Disclaimer: This analysis is for informational purposes only and does not constitute financial advice.