FenzoFx—Crude Oil is consolidating below the $65.10 resistance, trading around $64.30. The price remains above the 50-period SMA on the 4-hour chart, confirming a bullish trend. However, the Stochastic Oscillator crossing above 20 signals overbought conditions, suggesting a potential pullback.
If oil stays below $65.10, a bearish wave could follow, targeting $62.31 and then $61.75.
Bullish Scenario: A close and stabilization above $65.10 could trigger the uptrend, targeting $67.60.
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If oil stays below $65.10, a bearish wave could follow, targeting $62.31 and then $61.75.
Bullish Scenario: A close and stabilization above $65.10 could trigger the uptrend, targeting $67.60.
>>> No Deposit Bonus
>>> %100 Deposit Bonus
>>> Forex Analysis Contest
All at FenzoFx Decentralized Forex Broker
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Knowledge Should Be Free – And So Is Your Path to Trading Success.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.