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Crude oil is trading around $92.72, below the 200-day EMA and below the 100% Fibonacci extension. From its high of $107, crude oil underwent a technical correction toward the 61.8% Fibonacci level, reaching $103.50. From there, we saw a technical reversal reaching the 7/8 Murray level, which also coincided with the 161.8% Fibonacci extension.
If crude oil consolidates below the 200 EMA in the coming days, we could expect it to continue falling until it reaches the 7/8 Murray level and could even fill the gap left on April 17 around $83.25.
Conversely, if crude oil recovers and consolidates above the 200 EMA, this could be seen as a positive signal to buy, with targets at the 61. 8% Fibonacci level around $97.30 and could even reach the 21 SMA at $98.20, and finally, it could close the gap left around $99.50 at the opening of Wednesday's Asian session.
We must monitor the $93.37 area; above this level, we will look for a positive signal, and below this level, we will continue selling as crude oil could remain under downward pressure.
If crude oil reaches $87.50, we could view this area as a point for a technical rebound, and it could be seen as a positive signal to buy, with targets at $93.37 and $98.20.
*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।
