- Analytics
- Market analysis
- Technical Analysis
- Oil is still testing the MA 200 H1 resistance
Oil is still testing the MA 200 H1 resistance
Yesterday, Brent crude oil traded lower and closed the day in the red zone near the price of 73.15. Today, oil traded in a narrow range of 72.65-73.30, remaining near yesterday's closing price. On the hourly chart, Brent is testing the resistance - the MA (200) H1 moving average line (73.05). On the four-hour chart, oil is still below the MA 200 H4 line. Based on the above, it is probably worth sticking to the southern direction in trading and while Brent remains below the MA 200 H1, it may be necessary to look for entry points for sale at the end of the correction.
- Resistance levels are at: 75.20-40, 76.30-50, 78.45
- Support levels are at: 72.70, 71.30, 70.95
Probably, the main scenario is a resumption of growth to 75.20 (Nov 25 high).
The alternative scenario suggests consolidation below MA 200 H1 with a subsequent fall to 70.95 (Nov 18 low).
© 2000-2025. 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.
