Oil Tests the $90's Again

19 Ağu 2022

Oil has found support at $85.55, but is having difficulty ascending to higher levels. We did test $90.06, as we anticipated yesterday, however it seems that we are rejecting this level. We are meeting strong resistance here confirmed by a red triangle on the KRI. If we reject the $90's, we could head straight back to support at $85.55. If that does not hold, then $84.75 and $83.76 are the next support levels below.