country flagالعربية
0

OIL Technical analysis 9 August 2018

2018-08-08 11:10 pm | Resource: Technical Analysis | No Views : 84

Time frame Used - four hours
Oil is moving in a sideway direction in the near term
OIL CHART
The selling force was able to control the movement of oil to drop the oil once again to the support level of 66.30 trying to consolidate above this level
  In view of the technical indicators
Both the RSI and the Stochastic are indicating the arrival of indicators to the oversold area
Therefore we expect that the oil will  test levels of  67.54 - 69.22 again
The alternative scenario is that the oil violated  level of 66.30 down to target the level of 64.84
Resistance: 67.54 - 69.26 - 70.42
Support: 66.30 - 64.84 - 63.49
Direction: sideway
Technical Analysis
Commodities Analysis
Bitcoin News


Other news

Oil fell with the start of weekly trading

 Brent crude Brent crude fell on Monday to trade higher in the morning before falling back $ 62, after OPEC and its allies agreed to cut output and concerns about Libya's largest oil field. Earlier in the week, major oil producers reached a preliminary agreement to cut oil production by 1.2 million bpd, with OPEC output cut by 800,000 barrels per day, while Russia and allied producers would release 400,000…

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.