USOIL - BEARISH TOWARD 69.51

25 set

Generally, the direction is uptrend

Uptrend Side: The oil price is currently trading below 71.53 and is expected to reach 69.51. A break below this level may lead to a decline toward 68.00.

Downtrend Side: However, breaking above 71.53 will lead to a further decline, targeting the support at 73.80.

Tendency Keys: 71.53

25 set

Nota

Oil prices steadied on Wednesday after rising in the previous session on fading excitement for the economic stimulus in China, the world’s biggest crude importer, though an industry report showing falling U.S. crude and fuel inventories supported the market.

25 set

Trade chiuso: obiettivo raggiunto

the oil price fell and reached our target of 69.51.

26 set

Trade chiuso: obiettivo raggiunto

The price reached our target of 68.00.

26 set

Trade chiuso: obiettivo raggiunto

REACHED SECOND TARGET +355 PIP

26 set

Trade attivo

Before the price begins its bearish trend towards 68.00 and further down to 65.21, it is likely to make a correction towards 69.51 or slightly above. After this correction, it is expected to resume the downtrend.

27 set

Trade chiuso: obiettivo raggiunto

According to my last analyses, the price fell and stabilized below 68.00.

Currently, it is in the correction process toward 68.00, then the price should fall until it touches 65.21.