Forex Trading Library

Crude Oil – 11.07.2024

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As predicted early this week and as we see on our previous chart, Crude Oil failed for the second time to obtain a daily close above the resistance of 83.60.
Prices managed yesterday to meet the target at the 80.00 levels.
The market managed to keep holding above 80.00 and hit a rebound correction as expected toward 82.00.
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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