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Crude oil (WTI) is trading around $64.06 above 5/8 Murray and showing positive signs, waiting to cover the gap left at $65.40.
In the coming hours, we will continue to buy crude oil as it is positioned above the 4/8 Murray, which favors the bullish cycle. We also saw the formation of a pennant pattern on the H4 chart, which suggests a bullish outlook. WTI is likely to reach the 6/8 Murray and could even reach its January high around $66.20.
A drop below the 21 SMA and below 4/8 Murray could change the bullish outlook for crude oil, and we could expect the price to reach the psychological level of $60.00 or find good support around the 200 EMA located at $60.45.
On the H4 chart, we can see that crude oil has an upward trend channel, so a technical rebound at the lower band of this channel around $62.10 will be seen as an opportunity to open long positions.
The Eagle indicator is showing a positive signal, so any pullback in the coming hours will be seen as a buying opportunity.
*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।