The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
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The price of a crude oil barrel is trading around $95.30 within the uptrend channel formed since May 7 and is consolidating above the 21-day SMA, although it is showing signs of exhaustion.
If crude oil consolidates above $96.63 in the coming hours, this could be seen as a positive signal to buy, with targets at the psychological level of $100 around the 8/8 Murray line.
A decisive break above $100 could lead to further gains until the upper band of the uptrend channel around $103.26 is reached.
Conversely, a strong break below the uptrend channel and consolidation below $96.50 could be seen as a signal to sell, with targets at the 200 EMA around 93.80.
Looking at the H4 chart, we can see that crude oil left a gap around $91.30. If the price falls below the 200 EMA, it could fill this gap.
Our trading plan for the coming hours is to buy crude oil above $96.50, with targets at $100, and to sell if the price fails to consolidate above this zone.
Another possibility would be to sell below $96.50, with targets at $93.80, $91.30, and finally at the 7/8 Murray level around $87.50.
*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.
Uz InstaSpot-ove analitičke preglede uvek ćete biti u toku sa tržišnim trendovima! Klijentima InstaSpot-a su dostupni mnogobrojni besplatni servisi za uspešno trgovanje.
