Judging from technical indicators, oil is still likely to fall. 87.4 is the medium-term boundary point, and 88.2-88.6 is the upper resistance range.
Oil rose to 89.9 twice last week and started to fall
We now use the mid-term dividing point of 87.4 to observe the upper and lower support and resistance, and trade when reaching the support and resistance point to increase the probability of success.
There is still room for oil to fall, and it will be observed below whether the support point can hold on again.
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Trading volume waiting for US market time
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There is not much volatility now, continue to observe the support and resistance points to trade
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The oil has now reached above 88, and the resistance point of 88.2-88.6 is observed again
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Did not touch the 88.2 resistance, so it is judged that the increase is not strong
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Fell below the mid-term boundary point of 87.4 and may continue to fall
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As I expected, it has fallen by 60pips again
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Observe the support of 85.3-85.7, if it falls below, it will continue to fall
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As I expected, oil rose with support at 85.3
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Oil is also the same as I expected, supported in the range of 85.3-85.7, reaching a maximum of 86.23, and it has also risen by 53pips.
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Observe the support of 85.3-85.7, if it falls below, it will continue to fall
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It fell below 85.3 but was not hindered. It was supported at 85, so it is still possible to rise.
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Oil has fallen below the important boundary point of 85, and now it is more likely to fall. Observe the support of the low of 84.
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