OIL 28.10.2021

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

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

 


*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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