{"id":37954,"date":"2020-12-02T11:07:32","date_gmt":"2020-12-02T07:07:32","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=37954"},"modified":"2020-12-02T11:07:34","modified_gmt":"2020-12-02T07:07:34","slug":"oil-gives-up-gains","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-gives-up-gains\/12\/02\/tech-analysis\/","title":{"rendered":"Oil Gives Up gains"},"content":{"rendered":"\n<p>Negative trading dominated the futures price of US crude oil within the bearish context expected during the previous analysis, touching the first target 44.20 and approaching a few points difference from the second target of 43.70, recording its lowest level during early trading for the current session 43.90.<\/p>\n\n\n\n<p>Technically, we find oil confirmed the breach of the support level of 44.70, which is now turned into a resistance level. This coincides with the obvious negativity on the stochastic indicator.<\/p>\n\n\n\n<p>From here, the bearish bias is likely today, targeting 43.40 \/ 43.30 as a first target, and breaking it would put the price under strong negative pressure targeting 42.75.<\/p>\n\n\n\n<p>A reminder that the activation of the suggested scenario requires stability below 44.70, and surpassing it upwards will postpone the chances of a reversal, and we witness a slight bullish slope targeting 45.20.<\/p>\n\n\n\n<p>Note: the level of risk may be high today. <\/p>\n\n\n\n<p>Note: Today we are awaiting the report from the International Energy Agency later in today&#8217;s session that may have a significant impact on prices.<\/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><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>45.10\u00a0\u00a0\u00a0<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/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><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>45.75&nbsp;&nbsp;<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/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><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>46.30\u00a0\u00a0\u00a0<\/strong>\u00a0\u00a0<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/td><td><strong>R2: <strong><strong>46.45&nbsp;&nbsp; &nbsp;<\/strong><\/strong><\/strong><\/td><\/tr><tr><td><strong>S3:\u00a0<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>46.95\u00a0<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/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><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>46.20&nbsp; &nbsp;&nbsp;<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/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":37962,"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-37954","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\/37954","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=37954"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/37954\/revisions"}],"predecessor-version":[{"id":37963,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/37954\/revisions\/37963"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/37962"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=37954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=37954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=37954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}