country flagالعربية

OIL Technical analysis 19 July 2018

2018-07-18 11:12 pm | Resource: Technical Analysis | No Views : 85

Time frame Used - four hours
Oil is moving in a bearish direction in the near term
The bears managed to control the movement of oil to break the support level of  67.80 down to reach the support level of  66.67 forming a  positive candlesticks pattern
  In view of the technical indicators
Both the RSI and the Stochastic are indicating the arrival of indicators to the oversold area
Accordingly, we expect that the oil will  drop to levels of  65.85 - 64.58
Alternative scenario is that the oil test  the level of 67.80
Resistance: 67.80 - 69.38 - 70.26
Support: 66.67 - 65.85 - 64.58
Direction: Down
Technical Analysis
Commodities Analysis
Bitcoin News

Other news

Gold prices are down after the rally but are headed for a weekly close in green

 Gold prices fell on Friday as the dollar stabilized, but is trading near its highest level in more than 10 weeks and is heading for weekly gains of 1.5% amid turbulence in global markets Prices fell as Asian and European stocks rebounded amid easing trade tensions and China's strong export data. After media reports indicated that the US Treasury Department did not describe China as manipulating the currency in an…

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 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.