OIL 28.10.2021

Technical Analysis
Thursday, October 28, 2021 - 11:07
Point Trader Group
OIL 28.10.2021

Overview:

The above chart shows that the pair is trading in a short-term downtrend

Expected scenario:

The pair is approaching a strong support level around 80.78 - 80.60, and accordingly we will wait for the pair until it reaches these levels, and in the event of positive signs appearing, we may buy to target 82.30

Alternative scenario:

On the other hand, we see that if the 80.60 level is broken down, it may push the pair down to 80 dollars

 

Resistance

82.00

82.40

82.69

Support

80.78

80.60

80.00

 

  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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