• Increasing bearish pressure on the oil following China's downgraded growth forecasts, lockdown and increasing chance of a recession worldwide
• Forecast on oil demand lowered for the months ahead
• Technically, the series of higher highs/higher lows has been broken clearly and successfully
• Bears in control
• Next support is the 85 level (high 2021), followed by 77 critical level (high Oct 21 and high 2018)
• Bulls need to reclaim the 92 figure to re-gain control
• Forecast on oil demand lowered for the months ahead
• Technically, the series of higher highs/higher lows has been broken clearly and successfully
• Bears in control
• Next support is the 85 level (high 2021), followed by 77 critical level (high Oct 21 and high 2018)
• Bulls need to reclaim the 92 figure to re-gain control
Nota
85 level reached and breached. Next target to test is 77
Ramzi Abou Abdallah, CFTe, CMT
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Ramzi Abou Abdallah, CFTe, CMT
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.