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

 

  Disclosure of risk:     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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