country flagالعربية
0

OIL Technical analysis 19 June 2018

2018-06-19 01:01 am | Resource: Technical Analysis | No Views : 48

Time frame Used - four hours
Oil is moving in a sideway direction in the near term
OIL CHART
The selling force managed to control the movement of oil to breach the resistance level of  65.93 down to reach support level of  63.37 to bounce again to touch the lower of the up channel
  In view of the technical indicators
Both the RSI and the Stochastic are indicating to a decline in indicators
Accordingly, we expect that  oil will  retreat to the level of 64.53 - 63.37
The alternative scenario is that  oil target level of  65.93 - 66.50 - 67.10
Resistance: 65.00 - 65.93 - 66.50
Support: 64.53 - 63.00 - 62.50
Direction: sideway
Technical Analysis
Commodities Analysis
Bitcoin News


Other news

Oil rises due to supply concerns ahead of OPEC meeting and anticipation of Saudi output

 Oil prices rose on Friday after falling the previous day as US President Donald Trump urged OPEC to cut crude prices, days before the OPEC meeting in Algeria. Prices remained buoyed by concerns over supply shortages amid looming US sanctions against Iran's oil industry, which is due to come into effect in November. Trump on Thursday called on the Organization of the Petroleum Exporting Countries (OPEC) to cut oil prices,…

More news

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any doubts.TradingPekk.com does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.