Can oil's price to rise?
🔥 Friends, the market is heating up!
Bears have pushed oil down to a key support level – $72 per barrel. This is the last point where wave (5) of the impulse could start forming.
📉 Bearish scenario: A break below this level could send oil to new yearly lows.
🐂 Bullish scenario: We see a bullish divergence on the H1 chart, and the price is testing the upper boundary of the descending regression channel. If the bulls manage to break $73.52, we consider it reasonable to buy with targets at $75.90 and $78.50.
⚠️ Risk factor: Oil remains highly volatile due to news events.
Additionally, Trump is once again threatening new sanctions on Russia’s oil sector and a 25% tariff on goods from Canada—which the market may see as a potential catalyst for growth.
📊 Trade carefully and don’t forget stop-losses!
What’s your outlook? Share your thoughts in the comments!
Bears have pushed oil down to a key support level – $72 per barrel. This is the last point where wave (5) of the impulse could start forming.
📉 Bearish scenario: A break below this level could send oil to new yearly lows.
🐂 Bullish scenario: We see a bullish divergence on the H1 chart, and the price is testing the upper boundary of the descending regression channel. If the bulls manage to break $73.52, we consider it reasonable to buy with targets at $75.90 and $78.50.
⚠️ Risk factor: Oil remains highly volatile due to news events.
Additionally, Trump is once again threatening new sanctions on Russia’s oil sector and a 25% tariff on goods from Canada—which the market may see as a potential catalyst for growth.
📊 Trade carefully and don’t forget stop-losses!
What’s your outlook? Share your thoughts in the comments!
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