oil
Oil weekly technical analysis
Oil is moving in a bullish wave, expected to drop from the selling liquidity resistance area at 77.15 levels, to target the purchasing liquidity support area at 71.86 levels, from which we expect the rise to continue and target the purchasing liquidity resistance area at 79.31 levels, from which we expect the week’s top to form.
But in the event that a four-hour candle closes below the 71.45 level, we expect the decline to continue and target the purchasing liquidity support area at 69.37 levels, from which the bottom of the week is expected.
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