OIL. Time to collect a little bit into the bucket :)
In my short-term trade, the level of 79.5-80 USD will be very important. I am looking for strong support here with the potential for an upward impulse of 11% to the area of 89.3 USD. This area is an extremely important point for further play and the situation must be closely monitored.
When the price shows significant weakness, a quick drop to a new LOW - around 60 USD will be possible.
If the price breaks the level of 89.3 USD with a decisive move, we will probably see an increase under 110 USD - around ATH.
At 110 dollars, two situations are possible:
a) we break it with a decisive move to 133-135 USD, a small correction to 110 and further upward movement
b) we return to 89.3 USD and from there we build an upward movement
Generally, no matter what happens, I assume that in this edition we will see prices in the range of 200-770-315 USD in the future.
When the price shows significant weakness, a quick drop to a new LOW - around 60 USD will be possible.
If the price breaks the level of 89.3 USD with a decisive move, we will probably see an increase under 110 USD - around ATH.
At 110 dollars, two situations are possible:
a) we break it with a decisive move to 133-135 USD, a small correction to 110 and further upward movement
b) we return to 89.3 USD and from there we build an upward movement
Generally, no matter what happens, I assume that in this edition we will see prices in the range of 200-770-315 USD in the future.
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