03:23 pm (GMT +0200)Oil is negotiating between the key levels at 76.78 and 75.93. If the bears take control and manage to push prices lower, then the market will attempt to test the support level at 75.59. A further decline of Oil prices will pave the way towards the support level at 75.42.
Price Action
Thursday, November 16 2023
03:23 pm (GMT +0200)
30 minutes Timeframe
If Oil fails to withstand the bulls' pressure, the bearish scenario will be eliminated and we foresee that a bullish outlook will be in effect.
Price Action Outlook:
Bullish
Profit Levels
Target 1
75.59
Target 2
75.42
Target 3
75.08
Target 4
74.66
Entry
75.93
Stop Loss
76.78
Trend Confirmation
Momentum
LWMA
MACD
Price Action
Thursday, November 16 2023
03:23 pm (GMT +0200)
30 minutes Timeframe
Oil is negotiating between the key levels at 76.78 and 75.93. If the bears take control and manage to push prices lower, then the market will attempt to test the support level at 75.59. A further decline of Oil prices will pave the way towards the support level at 75.42.
If Oil fails to withstand the bulls' pressure, the bearish scenario will be eliminated and we foresee that a bullish outlook will be in effect.
Price Action Outlook:
Bullish
Profit Levels
Target 1
75.59
Target 2
75.42
Target 3
75.08
Target 4
74.66
Entry
75.93
Stop Loss
76.78
Trend Confirmation
Momentum
LWMA
MACD