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 a sell signal will be triggered at 75.93 with a bearish outlook. A further decline of Oil prices will pave the way towards the support levels at 75.59 and 75.42. A protective stop loss at 76.78 is strongly recommended.
Price Action
Thursday, November 16 2023
03:23 pm (GMT +0200)
30 minutes Timeframe
Should the commodity manage to penetrate the resistance level at 76.78, Oil will cancel the bearish outlook generating a bullish scenario.
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 a sell signal will be triggered at 75.93 with a bearish outlook. A further decline of Oil prices will pave the way towards the support levels at 75.59 and 75.42. A protective stop loss at 76.78 is strongly recommended.
Should the commodity manage to penetrate the resistance level at 76.78, Oil will cancel the bearish outlook generating a bullish scenario.
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