FenzoFx—Crude Oil is consolidating after testing $63.9 resistance, trading near $62.23, supported by the 50.0% Fibonacci retracement.
While the bullish trend persists above the 50-period simple moving average, the Stochastic Oscillator shows an oversold condition, hinting at a rebound.
A bullish wave may target $64.00 if Oil holds above $62.00. However, if it dips below this level, momentum could extend down to $60.77, near the 78.6% Fibonacci retracement.
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While the bullish trend persists above the 50-period simple moving average, the Stochastic Oscillator shows an oversold condition, hinting at a rebound.
A bullish wave may target $64.00 if Oil holds above $62.00. However, if it dips below this level, momentum could extend down to $60.77, near the 78.6% Fibonacci retracement.
>>> 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.