WTI Oil - OUTLOOK
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WTI Oil 4H NEW FORECAST
The price of oil shows additional negative trading at the opening of the day, reaching the outskirts of the 78.32 level, and we expect the negative pressure to continue to break this level and open the way to achieving additional negative targets that reach the 77.59 areas as the next main station.
Therefore, the downward trend will remain dominant during the coming sessions, supported by the negative pressure formed by the moving average 50, keeping in mind that the breach of 78.32 will stop the expected decline and lead the price to attempt to restore the main upward trend again.
Pivot Line : 78.32
Resistance Line : 78.92 , 79.50 , 80.32
Support Line : 77.59 , 76.89 , 76.00
WTI Oil 4H NEW FORECAST
The price of oil shows additional negative trading at the opening of the day, reaching the outskirts of the 78.32 level, and we expect the negative pressure to continue to break this level and open the way to achieving additional negative targets that reach the 77.59 areas as the next main station.
Therefore, the downward trend will remain dominant during the coming sessions, supported by the negative pressure formed by the moving average 50, keeping in mind that the breach of 78.32 will stop the expected decline and lead the price to attempt to restore the main upward trend again.
Pivot Line : 78.32
Resistance Line : 78.92 , 79.50 , 80.32
Support Line : 77.59 , 76.89 , 76.00
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