USOIL - Bearish Trend

4 sept.

Price settled below the 72.88 level and the blue downtrend until touched the support of 69.53 as we mentioned

Generally, the direction is a downtrend

Uptrend Side: breaking and stability above 72.88 and 71.70 will activate the bullish trend again to ward 74.70.

Downtrend Side: After the price touched the support line of 69.53, it reversed upwards as a correction, so as long as the price trades under 72.88 and 71.70, the downtrend will remain active to touch 69.53 and under 67.33.

Tendency Keys: 72.88 and 71.70

5 sept.

Trade fermée: cible de profit atteinte

Currently, the price is attempting to stabilize below 69.53. A decisive break below this level will likely lead to a move towards 67.33.

However, a reversal in the price would result in movement between 71.69 and 69.53.

5 sept.

Trade fermée: cible de profit atteinte

The 4-hour candle closes below 69.53, which supports a further bearish movement in the price.

6 sept.

Transaction en cours

Still, the price trades below the resistance of 69.53, and also has a bearish tendency