USOIL - REVERSING FROM SUPPORT
Oil prices ticked up in early trade and currently continue at the bullish trend after falling in the previous session until 68.64 as investors took stock of a potential ceasefire between Israel and Hezbollah, weighing on oil’s risk premium.
Generally, the direction is uptrend
Uptrend Side: Oil prices are showing bullish momentum, reinforcing projections of continued gains in the near term. The price is on track to reach our expected target of $70.51, with a breakout above this level likely to drive the upward wave further toward $71.74.
Downtrend Side: Conversely, a break below $68.64 would disrupt the upward momentum and prompt a shift toward a downward trend.
Tendency Keys: 68.64
Generally, the direction is uptrend
Uptrend Side: Oil prices are showing bullish momentum, reinforcing projections of continued gains in the near term. The price is on track to reach our expected target of $70.51, with a breakout above this level likely to drive the upward wave further toward $71.74.
Downtrend Side: Conversely, a break below $68.64 would disrupt the upward momentum and prompt a shift toward a downward trend.
Tendency Keys: 68.64
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With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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