UK Brent Oil 4H :Retest and then rise up
UK BRENT OIL
New forecast
The price perfectly fulfills my last idea and reached to our first target +285 pip .
The price of Brent crude oil contracts has made new attempts to penetrate the 89.55 level and is finding it difficult to exceed it, waiting for a strong positive incentive that will contribute to pushing the price to exceed this level and confirm the opening of the way for a rush towards our new positive targets that start at 91.00 and extend to 92.52.
Therefore, the emerging scenario will remain valid and effective due to the poor situation between Israel and Palestine. keeping in mind stability above 89.55 represents a preliminary condition for the continuation of the expected rise, as trading under that area it will put pressure on the price to decline again to the previously broken level 86.93 so now it is possible to do a negative correction and then we will see bullish waves .
The expected trading range for today is between support 86.93 and resistance 89.55 .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 86.93 , 85.32
resistance line : 88.38 , 89.55
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecast
The price perfectly fulfills my last idea and reached to our first target +285 pip .
The price of Brent crude oil contracts has made new attempts to penetrate the 89.55 level and is finding it difficult to exceed it, waiting for a strong positive incentive that will contribute to pushing the price to exceed this level and confirm the opening of the way for a rush towards our new positive targets that start at 91.00 and extend to 92.52.
Therefore, the emerging scenario will remain valid and effective due to the poor situation between Israel and Palestine. keeping in mind stability above 89.55 represents a preliminary condition for the continuation of the expected rise, as trading under that area it will put pressure on the price to decline again to the previously broken level 86.93 so now it is possible to do a negative correction and then we will see bullish waves .
The expected trading range for today is between support 86.93 and resistance 89.55 .
Be careful because of the war between Palestine and Israel, we may witness unexpected movements .
support line : 86.93 , 85.32
resistance line : 88.38 , 89.55
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
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