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Red lines- bearish channel
Blue line- resistance trend line
Oil price is trading around $74.95. Short-term trend remains bearish as price continues making lower lows and lower highs inside the red downward sloping channel. However price has reached important support area around $74-$75 and the chances for a bounce higher have increased. The RSI has already provided us with a bullish divergence. So far there is no reversal confirmation. Short-term resistance is found at $76.75 and a break above this level could be the reversal signal we are expecting to see. A break above the blue trend line resistance will most certainly push price towards the upper channel boundary around $81.50. This will be the first step for a bigger reversal. Until then bears remain in full control of the trend.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
