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Crude oil is trading at $82.47 within the downtrend channel that has been forming since August 20, above the 200-day EMA and above the 21-day SMA, which is showing a bullish bias.
Crude oil reached the upper band of the downtrend channel and has since been showing a negative signal, although it could find strong support around $81.50 or near the Murray 5/8 level, where a technical rebound could occur.
A decisive break above the downtrend channel, with consolidation above $83, could be interpreted as a positive signal to buy crude oil. In that case, the price could reach the weekly resistance at $85 and, ultimately, climb to the Murray 6/8 level, around $87.50.
Our outlook for the coming days is that the CL price will consolidate above $81.25. A technical rebound around this area could be interpreted as a positive signal to open long positions.
Conversely, a break below $81 could change the outlook for crude oil, and we could expect it to continue falling until it reaches $78 and even fill the gap left on August 8 around $76.50.
As long as crude oil remains within the downtrend channel, a technical correction below $83.70 could be expected.
*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।
