Usoil:Waiting for the choice of direction

19 Okt 2023

Yesterday I judged that if it falls below 86.9, we need to observe the support of 85.3-85.7.

Now oil is rising again, but it is blocked from falling at 86.9. Because of the Israeli-Palestinian conflict, we are trading more cautiously and waiting for the stimulus of the news to choose the direction.

Because there is no breakthrough of 86.9, you need to observe whether you can break through 86.9. If you break through, the possibility of rising will increase. If you fall, you need to pay attention to whether 85.3-85.7 can be supported again. If you fall below this range, the possibility of falling will increase again.

Now we wait for the market to choose the direction, and wait for the trend to be obvious before trading, which will increase the chance of profit.

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19 Okt 2023

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Pay attention to the resistance of 88 above