Technical Analysis
23.09.2022, 05:23

Oil remains below MA 200 H1

Yesterday Brent oil traded in different directions in the range of $89.50-$92.95 and closed the day without significant changes. Today, oil fell slightly, dropping to $90.05. On the hourly chart, Brent is still trading below the moving average MA (200) H1 ($92.45). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the south direction in trading, and as long as Brent remains below MA 200 H1, it may be necessary to look for entry points for selling to form a correction.

  • Resistances levels are at: $93.70, $95.05, $96.25-70

  • Support levels are at: $88.80, $87.95, $86.20

Probably, the main scenario is to move forward is a likely decline to $88.80 (Sep 19 low).

The alternative scenario is consolidation above the MA 200 H1 followed by a rise to $97.80 (Sep 5 high).

Quotes
Symbol Bid Ask Time
AUDUSD
EURUSD
GBPUSD
NZDUSD
USDCAD
USDCHF
USDJPY
XAGEUR
XAGUSD
XAUUSD

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location