Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Mixed trading continues to dominate US crude oil futures prices, lacking a clear direction and influenced by ongoing geopolitical tensions.
Technical Outlook – 4-Hour Timeframe:
Immediate trading is clearly upward after reaching $79.00. The Relative Strength Index (RSI) reached oversold territory, prompting a quick price rebound. However, the price remains below the 50-day simple moving average, which may limit the chances of a recovery.
Likely Scenario:
We prefer to monitor price action until a clearer direction emerges, leading to one of the following scenarios:
- A confirmed break above the $90.00 resistance level could open the way to $94.00.
- Conversely, a return to trading below $84.00 could target $79.80.
Caution: The risk level is high amid ongoing trade and geopolitical tensions, and all scenarios remain possible. Trading oil involves high risk and may not be suitable for all investors.
Trading in CFDs involves high risk, and therefore all scenarios are subject to potential outcomes. The analysis provided above is not a recommendation to buy or sell but rather an illustrative reading of price action on the chart.
| S1: 79.75 | R1: 94.70 |
| S2: 71.90 | R2: 101.80 |
| S3: 64.80 | R3: 109.70 |
