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Oil Strong Resistance Above

By:

Nenad Kerkez

Published: Aug 12, 2021, 09:14 GMT+00:00

Oil has made a move in the 78.6-88.6 zone and we could see a drop soon.

69.09-69.59 is the zone where sellers might be waiting. We can see that a trend line is protecting sellers from further losses as the price might turn bearish. A rejection off the zone should be targeting D L3 68.60 and further levels down 67.84 and 66.48. Look for selling into rallies.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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