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Crude oil is trading around $90.79, reaching the 61.8% Fibonacci retracement level drawn from this week's low to its high of $93.80.
Crude oil is likely to continue rising in the coming hours until it reaches the resistance level around $96.00.
If crude oil falls below the psychological level of $90, we could expect it to continue falling until it reaches the 161.8% Fibonacci level around $85.93.
If USD/OIL pulls back toward the 21SMA ($92.87) in the coming hours and fails to consolidate above this zone, we could look to sell again, with targets at $88 and even around the 7/8 Murray level at $87.50.
A consolidation above $93 could be bullish for crude oil, so we could buy with targets at the 200 EMA around $95.20. Ultimately, we expect it to close the gap around $96.
A decisive break of the downtrend channel could take crude back toward the psychological $100 level around the 8/8 Murray line.
The Eagle indicator has reached oversold levels. Therefore, crude will likely continue its rise in the coming days, hence we will look for opportunities to continue buying.
*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।
