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TECHNICAL ANALYSIS

We provide an up-to-date Technical Analysis reports of the forex market, metals, oil and global indices to highlight the most important expected movements on the charts.

OIL 08.06.2021

Technical Analysis
Tuesday, June 08, 2021 - 15:03
Point Trader Group
OIL 08.06.2021

Overview: 

Prices are moving in a medium term uptrend. 

Expected scenario: 

The pair is approaching a strong resistance level around $72, which could push it down to $71. 

Alternative scenario: 

On the other hand, we see that if the level of 72.15 is broken upwards, it may push the pair to rise further to reach $73.

Resistance levels

72.00

72.15

73.00

Support levels

71.00

70.70

70.41

 

*Risk Disclaimer: Point Trader Group will not accept liability for any loss or damage as a result of reliance on the provided information.

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