The price of oil found a strong and important horizontal support at 42.20 which is shown in the chart above to show some slight positive trading but it remains stable below 43.00, and the price is under the pressure of the bearish trend line which is pushing the price down from 52.00 zones.
Therefore, the bearish trend will remain effective during the coming sessions unless the breach of 44.10 is breached above it, noting that a break of 42.20 may press the price to suffer more losses in the short and medium term, extending negative targets towards 37.21 if the price succeeded in breaching 40.66 And stability without it.
The trading range for today is expected among the support at 40.66 and the resistance at 44.10
The general trend for today is bearish
' shown in the chart above'
did you forget to put it in or is my internet just slow haha.
Doesn't look like it is looking great for the oil industry.
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Ohh i Missed it, thanks for your remark.
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