OIL 10.05.2021

Technical Analysis
Monday, May 10, 2021 - 02:46
Point Trader Group
OIL 10.05.2021

Overview: 

Prices are moving in an upward direction 

Expected scenario: 

The pair is trading below a strong resistance level around 69.36, which enhances the downside chances during the day's trading to 68.27 

Alternative scenario: 

On the other hand, we think that if the level of 69.36 is broken to the upside, this pair might push for further rise, reaching 69.85.

Resistance levels

69.36

69.85

70.00

Support levels

68.27

68.00

67.82

 

  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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