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Crude oil backs off from key ceiling area but the battle continues between buyers/sellers

Crude oil is currently trading at $82.47.Technically, that puts the price within the swing area ceiling between $82.43 and $83.44 (see yellow area and read number circles on the chart above). The high price today reached $83.30. The high price on Friday reached $83.24. Sellers leaned and pushed the price back to the downside. However, the price is not tumbling lower. So buyers and sellers are both fighting it out. A move above $83.44 would open the door for a potential move toward the 38.2% retr... Read More

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Content Topics

Crude

Backs

From

Ceiling

Area

Battle

Continues

Between

Buyers sellers

Forex

Posted: Aug 7 2023, 22:16

Author Name: forexlive

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