Oil technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Crude oil prices have recently exhibited elevated levels in the short term, currently trading above the key threshold of 63.000. This bullish momentum indicates the potential for further upward movement, possibly targeting the next resistance level around 64.900. However, this level could act as a significant bearish resistance point, where selling pressure may emerge and limit additional gains.



Price may retrace towards the support level at 60.700. A break below this support could signal a shift in trend, opening the door to deeper corrections.
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