Oil | Thoughts and Analysis | Resistance Continues! | OIL
Hello, traders! Welcome to today’s update. Our focus shifts to Oil on the daily chart. We’ll delve into our analysis of price movements and highlight crucial levels. Once more, we witness resistance maintaining its stance, followed by a fresh downward momentum post failed tests.
Today’s focus: Oil
Pattern – Resistance re-hold
Support – $77.21, $76.30
Resistance – $78.85
Will we see a new move lower traders as we have seen in the past after buyers failed to break resistance? Or will we see the current trend hold and a new test and break of resistance eventuate?
Good trading.
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