Oil Slips Under $68 with China Economic Action on Hold
FxNews—Crude oil prices dipped after failing to maintain levels above the $72.25 resistance. The downtrend accelerated when prices breached the ascending trendline, further confirmed by RSI 14 divergence.
Currently, oil prices are oversold, suggested by both Stochastic and RSI 14 indicators. It is anticipated that crude oil prices might rebound or stabilize near higher resistance levels.
Technically, immediate resistances are set at $68.3 and the critical $69.7 barrier, supported by the Fair Value Gap. Prices are likely to consolidate around $69.7, providing a low-risk entry point for joining the bear market.
Traders and investors should closely watch these resistance levels for bearish signals, including candlestick patterns.
Article: fxnews.me/oil-slips-under-68-with-china-economic-action-on-hold/
Currently, oil prices are oversold, suggested by both Stochastic and RSI 14 indicators. It is anticipated that crude oil prices might rebound or stabilize near higher resistance levels.
Technically, immediate resistances are set at $68.3 and the critical $69.7 barrier, supported by the Fair Value Gap. Prices are likely to consolidate around $69.7, providing a low-risk entry point for joining the bear market.
Traders and investors should closely watch these resistance levels for bearish signals, including candlestick patterns.
Article: fxnews.me/oil-slips-under-68-with-china-economic-action-on-hold/
Knowledge Should Be Free – And So Is Your Path to Trading Success.
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.