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USOIL 29-11-2023

Technical Analysis
By Shady Fouad
0 32

USOIL 29-11-2023

The price is currently trading within a tight range between two minor  levels of support and resistance at 73.75-76.8. If the prices break above 78.5-80, it will be the first sign of a short-term bullish trend reversal. However, if the prices break below the important support zone at 72.5, we will resume the bearish trend. It is unlikely that the resistance zone mentioned earlier will be easily breached.

Support

 73.75 72.5 68.5
Resistance 76.8 78.5

80
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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