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!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Crude oil is trading around $79.67 with a positive bias and rebounding after finding strong support around $77.36—a level that coincided with the lows of July 20 and July 8, July 13, and July 17, so it now represents strong support, and we could expect the instrument to continue rising in the coming hours until it closes the gap left at Friday's close around $85.
Crude oil may struggle to continue rising as it faces resistance around the 200 EMA and the 5/8 Murray line, which coincides with the 21 SMA; if it reaches this zone, we could see a technical correction.
If the upward momentum prevails and crude oil consolidates above $81.25, the outlook could be positive, and we could continue buying with targets at $84.60, last week's high around $85, and finally, we could expect it to reach the 6/8 Murray level around $87.50.
The rally in crude oil could continue over the next few days and could close the gap left on July 24 around $90. If the instrument maintains upward momentum, it could even close the gap left in June around $96.
Given that crude oil could rebound over the next few days and continue to rise, we will look for opportunities to open long positions above $77.33, with targets at $80.50, $81.25, $84.70, and $87.50.
Conversely, a drop below $77.50 could extend crude oil's downtrend, and we could expect it to reach the 4/8 Murray level around $75 and possibly even close the gap left on July 12 around $71.
*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.
