USOIL - Facing Downtrending

Diupdate
Generally, the direction is downtrend.

Downtrend Side: Oil prices closed yesterday's trading below $76.42, encountering increased downward pressure and moving toward negative targets, beginning with a test of $74.70. A break below this level could further extend the bearish trend towards $72.88, followed by $71.60 as additional downside targets.

Uptrend Side: A break above $76.86 would halt the current downward pressure, leading the price to rise again toward $78.57.

Tendency Keys: 74.70
Trading ditutup: target tercapai
Still, the USOIL price tries to break the support of 74.70 and stabilizes under it.

target: 72.88
target: 71.69
Trading ditutup: target tercapai
U.S. oil prices fall more than 2% on reports OPEC+ will move ahead with a planned output hike

Oil prices slipped on Friday amid reports that OPEC+ would go ahead with a planned oil output hike in October.
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