Crude Oil: Testing Resistance Amid Bearish Momentum
Crude Oil Update (1-Hour Timeframe)
Chart Overview: Crude Oil is trading within a downward channel, respecting the resistance trendline, which aligns with the 50 EMA, signaling sustained bearish momentum.
The price attempted a breakout but faced rejection at the resistance, confirming the downtrend. The support zone near 6,420 has held well but remains under pressure.
Key Levels:
Resistance: 6550 - 6570
Support: 6420 - 6400
Bearish Target: 6350 - 6300 (if support breaks)
Strategy:
Monitor for a breakout or rejection at the trendline for directional confirmation. A move below 6,420 signals further downside, while a breakout above 6,550 may reverse the trend.
Risk Management: Maintain a stop-loss below the triangle's lower boundary for long positions and above the upper boundary for short positions.
Disclaimer: This technical analysis is for informational purposes only and does not constitute financial advice. Always trade responsibly and manage your risks effectively.
Chart Overview: Crude Oil is trading within a downward channel, respecting the resistance trendline, which aligns with the 50 EMA, signaling sustained bearish momentum.
The price attempted a breakout but faced rejection at the resistance, confirming the downtrend. The support zone near 6,420 has held well but remains under pressure.
Key Levels:
Resistance: 6550 - 6570
Support: 6420 - 6400
Bearish Target: 6350 - 6300 (if support breaks)
Strategy:
Monitor for a breakout or rejection at the trendline for directional confirmation. A move below 6,420 signals further downside, while a breakout above 6,550 may reverse the trend.
Risk Management: Maintain a stop-loss below the triangle's lower boundary for long positions and above the upper boundary for short positions.
Disclaimer: This technical analysis is for informational purposes only and does not constitute financial advice. Always trade responsibly and manage your risks effectively.
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.