Daily Technical Report 22-8-2024

Technical Analysis

By Shady Fouad On Aug 22, 2024

USOIL

Oil is trading below the key support area of $71.50. If this level is broken to the downside, the bearish trend may resume. However, it is likely that this area will limit the pace of the decline in today’s trading.

Support	71.50	70.50	69.50
Resistance	73.20	75	76.25

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Shady Fouad

Shady Fouad is a technical analyst at LDN Company
Shady's strategic vision in the currency markets is reinforced by more than fifteen years of trading experience, which enables him to blend economic and technical analyzes with high efficiency, and find the best investment ideas for traders.

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