empty
 
 
pk
سپورٹ
فوری اکاونٹ کھولیں
تجارتی پلیٹ فارم
رقم جمع کروانا / نکلوانا

08.11.202317:24 Forex Analysis & Reviews: Technical analysis on Oil for November 8th, 2023.

Exchange Rates 08.11.2023 analysis

Blue lines- Fibonacci retracement levels

Oil price is trading around $76-$77. Short-term trend remains bearish as price continues making lower lows and lower highs. Bulls were warned a few weeks ago when Oil price broke out of the bullish channel it was in and back tested the channel from below and got rejected. Oil price has reached today the 61.8% Fibonacci retracement level of the entire upward move. This is very important support. At the 61.8% retracement level we usually see trend reversals. That is why traders need to be very cautious. Technically we have no confirmation of a reversal to the upside. Bears remain in control of the short-term trend.

*تعینات کیا مراد ہے مارکیٹ کے تجزیات یہاں ارسال کیے جاتے ہیں جس کا مقصد آپ کی بیداری بڑھانا ہے، لیکن تجارت کرنے کے لئے ہدایات دینا نہیں.

Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

ابھی فوری بات نہیں کرسکتے ؟
اپنا سوال پوچھیں بذریعہ چیٹ.