Forex Trading Library

Crude Oil – 10.07.2024

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Crude Oil failed for the second time to obtain a daily close above the resistance 83.60 and maintained trades below the downtrend line as we see on the chart.
Today, price action reached the target of the 80.00 levels.
If prices remain above 80.00, another rebound toward 83.00-60 will be expected.
Below 80.00, more of a drop toward 77.50 will be expected with the main support at the 76.00-50 zone.
A daily close above 83.60 could activate a further advance toward 87.20.

LEVEL1 80.00 83.60
LEVEL2 77.50 85.50
LEVEL3 76.00 87.20

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