Oil: Thoughts and analysis

Today's focus: Oil

Pattern – Continuation?
Support – 85.38
Resistance – 87.37

Hi, traders; thanks for tuning in for today's update. Today, we are looking at oil on the daily.

After a surge from the USD caught a lot of attention yesterday, we are watching oil after it rejected a push lower by sellers and continues to hold in a potential continuation type set-up.

Do you think that price is showing signs of a continuation? Could a close above yesterday's high signal a new move higher that could test resistance at 87.37?

Watch out for a new move lower that tests the 85.50 area, as that could be a sign that sellers have more numbers than first thought.

Good trading.
cfdtradingChart PatternscommoditytradingCrude OilOilTechnical AnalysistradingTrend AnalysisWTIwticrude

Anche su:

Declinazione di responsabilità