Crude Oil Correction - Bearish Scenario (4H)

Brent Crude Oil Forecast 🛢️ UKOIL

Recent sessions saw a surge in Brent crude futures, hitting the top of a descending channel and undergoing huge correction currently. This paves the way for potential fall from 82.00 to 80 then 79.

The bearish trend remains strong as price got rejected from the 100-day moving average (4H timeframe). A break above 83 could signal bullish move.

Note: Keep an eye on unexpected movements due to Fed's meeting minutes and ongoing conflict between Palestine and Israel.

Support lines: 80.00
Resistance lines: 83.00

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Trade ativo:

As we forecasted, Price surged to first Sell Zone shown in chart as it failed it break 82.60. Right now Price has fallen and trying to break 30 Day MA (4H), if successful, final target remains same.

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Trade fechado: objetivo atingido:

We have successfully reached our TP at 83.00. Congratulations to everyone who followed.

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