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Crude oil is trading around $92.03, above the 21-day SMA and within the uptrend channel that has been forming since early March.
After finding support around $88.00 per barrel, crude oil is rebounding and is now consolidating above the psychological level of $90 and above the 21 SMA. It is expected to continue rising in the coming days until it reaches the psychological level of $100.
Looking at the 4-hour chart, crude oil has found strong support around $87 and is expected to continue rising in the coming days, potentially reaching $97 and even hitting its weekly high around $101.90.
In case crude oil falls below $87.50, decisively breaking the bullish trend channel, we could expect it to continue its bearish bias and potentially reach the 200 EMA around $82.02, and ultimately test the 6/8 Murray level around $75 per barrel.
The outlook remains bullish, and the Eagle indicator is showing a positive signal. As long as the USD/OIL price trades above $87.50, any pullback should be viewed as an opportunity to continue buying crude oil in the coming days.
*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।
