Oil Steady on U.S. Crude Decline and Possible OPEC+ Supply Hike

٥ سبتمبر ٢٠٢٤

Oil Prices Edge Higher on U.S. Crude Stock Decline and Potential OPEC+ Supply Hike Delay

Oil prices firmed on Thursday, recovering slightly from multi-month lows amid speculation of a potential delay in OPEC+ output increases and a decline in U.S. crude inventories. However, lingering demand concerns continued to limit the gains.

Technical Outlook: The bearish trend is likely to persist, targeting 65.85 as long as the price remains below 69.78. A break above 69.78 could pave the way for a move towards 71.78 and 72.72.

Key Levels:

Pivot Point: 69.78
Support Levels: 67.75, 65.85
Resistance Levels: 71.78, 72.72

Expected Trading Range: 69.78 - 65.85

Trend: Bearish while the price remains under 69.78.

١٠ سبتمبر ٢٠٢٤

أغلقت الصفقة: تم الوصول للهدف

USOIL
Update

the price dropped as we mentioned previously and we got over 400 pip profit
and still running to get 65.00 as well as long as trades under 65.85