Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
Since crude oil had found solid support around $79, it rebounded to nearly $83 in just a few hours. Technically, we could expect it to continue rising in the coming days and potentially reach the 6/8 Murray level around $87.50.
A consolidation above the 3/8 Murray level and above the 200 EMA on the H4 chart could be considered an opportunity to continue buying.
We expect crude oil to reach the strong resistance at $82.95—the August 10 high—in the coming days. Once the price breaks through this zone, we could expect it to continue rising to $85.30 and potentially fill the gap it left around $86.35.
If crude oil falls below $81.50, we could expect it to retest the psychological level of $80.00 or test the strong support at $79.35 again.
Given that the trend for crude oil remains bearish, a decisive break above $82.90 could be a positive sign in the coming days. Below $81.90, the outlook remains negative, and a break below $79 is expected to accelerate the downward movement, potentially reaching the 4/8 Murray level around $75.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
