{"id":36269,"date":"2020-10-29T10:21:28","date_gmt":"2020-10-29T06:21:28","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=36269"},"modified":"2020-10-29T10:21:31","modified_gmt":"2020-10-29T06:21:31","slug":"oil-continues-to-face-negative-pressure","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-continues-to-face-negative-pressure\/10\/29\/tech-analysis\/","title":{"rendered":"Oil Continues to Face Negative Pressure"},"content":{"rendered":"\n<p>US crude oil futures prices witnessed strong losses within the bearish path mentioned in the previous analysis to touch the target of of 37.70, recording a low at 36.97.<\/p>\n\n\n\n<p>Technically, with the regular movement inside the descending price channel on the chart, with continued negative pressure from the SMA 50, which meets around the 38.60 resistance level.<\/p>\n\n\n\n<p>Therefore, the bearish bias will be likely towards the third target of the previous report, 36.70 then 36.10.<\/p>\n\n\n\n<p>Trading above 38.55 negates the continuation of the bearish trend, and we may witness a retest of 36.60 before resuming the decline again.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>S1:\u00a0<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>36.70\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/td><td><strong>R1: <strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>38.55\u00a0\u00a0\u00a0<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/td><\/tr><tr><td><strong>S2:<\/strong>\u00a0<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>35.90\u00a0\u00a0\u00a0\u00a0<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/td><td><strong>R2:<\/strong>\u00a0<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>39.60\u00a0\u00a0\u00a0<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/td><\/tr><tr><td><strong>S3:\u00a0<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>34.90\u00a0\u00a0\u00a0<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/td><td><strong>R3: <strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>40.40\u00a0 \u00a0\u00a0<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Oil, Crude, trading<\/p>\n","protected":false},"author":9,"featured_media":36275,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[42,41],"tags":[7222,6877,6846],"class_list":["post-36269","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-tech-analysis","category-tech-analysis","tag-analysis","tag-dollar","tag-oil"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/36269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=36269"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/36269\/revisions"}],"predecessor-version":[{"id":36276,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/36269\/revisions\/36276"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/36275"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=36269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=36269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=36269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}