03:21 pm (GMT +0200)Oil is negotiating between the key levels at 0.60042 and 0.59703. If the bears take control and manage to push prices lower, then a sell signal will be triggered at 0.59703 with a bearish outlook. A further decline of Oil prices will pave the way towards the support levels at 0.59567 and 0.59500. A protective stop loss at 0.60042 is strongly recommended.
Price Action
Thursday, November 16 2023
03:21 pm (GMT +0200)
30 minutes Timeframe
Should the commodity manage to penetrate the resistance level at 0.60042, Oil will cancel the bearish outlook generating a bullish scenario.
Price Action Outlook:
Bullish
Profit Levels
Target 1
0.59567
Target 2
0.59500
Target 3
0.59364
Target 4
0.59195
Entry
0.59703
Stop Loss
0.60042
Trend Confirmation
Momentum
LWMA
MACD
Price Action
Thursday, November 16 2023
03:21 pm (GMT +0200)
30 minutes Timeframe
Oil is negotiating between the key levels at 0.60042 and 0.59703. If the bears take control and manage to push prices lower, then a sell signal will be triggered at 0.59703 with a bearish outlook. A further decline of Oil prices will pave the way towards the support levels at 0.59567 and 0.59500. A protective stop loss at 0.60042 is strongly recommended.
Should the commodity manage to penetrate the resistance level at 0.60042, Oil will cancel the bearish outlook generating a bullish scenario.
Price Action Outlook:
Bullish
Profit Levels
Target 1
0.59567
Target 2
0.59500
Target 3
0.59364
Target 4
0.59195
Entry
0.59703
Stop Loss
0.60042
Trend Confirmation
Momentum
LWMA
MACD