Market Analysis of US CRUDE OIL on Monday 2 SEPTEMBER 2024

2024-09-02 18:47Fonte:BtcDana

US CRUDE OIL   TECHNICAL ANALYSIS SHORT TERM VIEW

   

15 minute chart showing calculations it is running in negative trend and stop loss is 78.50 level . It can fall below 72.48 level in short term .Intraday purpose selling is better with stop loss 78 level expecting intraday targets 73.75, 73.50 and 73.25 levels respectively . Strong resistance area is 76.11 to 77 level and 74.52 to 75.13 .There is irregular correction at level of 72.50 so it can fall below that level sharply .


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Oil prices edge lower on persistent concerns over China's demand outlook and growing expectations that OPEC and its allies will gradually increase supply starting from October.


POC = Risk is a part of trading, use caution when placing orders and take market advice only into account.

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