- Analytics
- Market analysis
- Technical Analysis
- Oil continues Friday's rise
Oil continues Friday's rise
On Friday, Brent crude traded higher and closed the day in positive territory around $112.40. Today, oil also rose slightly, rising to $114.50. On the hourly chart, Brent broke through and fixed above the moving average line MA (200) H1 ($106.20). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and as long as Brent remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.
Resistances levels are at: $114.45, $120.60, $122.85
Support levels are at: $107.70, $105.20-$106.20, $101.40
Probably, the main scenario is a subsequent rise to $114.45 (session high).
The alternative scenario is consolidation below the MA 200 H1 followed by a decline to $99.00 (Apr 11 low).
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
