WTI Oil surrounding resistance

Nov 30, 2023

Hello everyone,

WTI Oil 6H NEW FORECAST

The oil price achieved an initial breakthrough to the 77.86 level and is trying to stabilize above it, which requires attention in the upcoming trading, as confirmation of the breakthrough will push the price to recover and achieve gains up to 81.80.



The Stochastic indicator is showing negative signs that may push the price down, and we prefer to stay neutral now until the price confirms its position with respect to the 77.86 level, noting that trading below it again will reactivate the bearish trend scenario and then head to visit the 73.73 areas as a main target.

Pivot Price: 77.86
Resistance prices: 81.80 & 83.78 & 85.94
Support prices: 73.73 & 72.25 & 69.53

The general expected tendency for today: neutral

Dec 5, 2023

Note