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Crude oil is trading around $81.84, after pulling back from a high of $83.25—a level that matched the July 30 high and, in turn, also appears to have filled the gap that formed in that area.
Crude oil could consolidate in the coming days and settle above the psychological level of $80. If WTI falls below the 5/8 Murray level, it could find strong support around the 200 EMA and 21 SMA moving averages, as these converge at that same level.
A technical rebound above $81.25 could be seen as an opportunity to continue buying the instrument in the coming days in anticipation that it will reach the 6/8 Murray level around $87.50. As an ultimate target, we expect it to close the gap left on June 23 around $89.60.
A drop in the crude oil price below $79.83 could change the scenario, and we would expect the downtrend to continue, potentially reaching the 4/8 Murray level around $75—which, in turn, could bring the price to the $76.12 area. It also serves as a target for bears so that the gap from August 7 could be closed.
On the H4 chart, the Eagle indicator shows a positive signal, so a technical bounce around $70.83 or above $81.25 will be considered an opportunity to continue buying 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।
