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Looking at changes in oil prices today US Crude oil is trading at 85.18. Yesterday the price fell to a low of 83.51 and touched the middle band line then rose and created a pin bar candle.
Iran's attack on Israel is still a hot debate in the global geopolitical situation. According to the Oilprice report, Israel vowed to respond to Iran's attack when oil prices fell. The action will be coordinated with the US, which is Israel's main ally.
XTIUSD technical analysis today
The price of US crude oil rose again after falling to a low of 83.51 and is now perched at 85.18.
On the daily timeframe oil prices move between the upper and middle band lines. Here the Bollinger bands form an upward channel with wide bands indicating an uptrend with high volatility.
The 50 MA formed an ascending channel near the lower band line reflecting a long-term bullish market.
Meanwhile, the RSI indicator is at level 67, meaning the price is moving above the uptrend level.
On the H1 timeframe, oil prices move near the middle band line, the price appears to be falling from near the upper band line trying to touch the lower band line.
Here the Bollinger bands form an upward channel with expanding bands indicating high market volatility.
MA 50 forms a flat channel near the price between the upper and middle band lines indicating a sideways market.
Meanwhile, the RSI indicator shows level 51 drawing a descending line indicating that prices are moving above the uptrend level with the possibility of a reversal.
Support and resistance
The closest support is based on the lower band at 84.00 and the support is based on the upper band at roughly 86.00.
In the daily period the support zone is near the middle band at roughly 83.50 and the resistance is above 87.00
Looking at changes in oil prices today US Crude oil is trading at 85.18. Yesterday the price fell to a low of 83.51 and touched the middle band line then rose and created a pin bar candle.
Iran's attack on Israel is still a hot debate in the global geopolitical situation. According to the Oilprice report, Israel vowed to respond to Iran's attack when oil prices fell. The action will be coordinated with the US, which is Israel's main ally.
XTIUSD technical analysis today
The price of US crude oil rose again after falling to a low of 83.51 and is now perched at 85.18.
On the daily timeframe oil prices move between the upper and middle band lines. Here the Bollinger bands form an upward channel with wide bands indicating an uptrend with high volatility.
The 50 MA formed an ascending channel near the lower band line reflecting a long-term bullish market.
Meanwhile, the RSI indicator is at level 67, meaning the price is moving above the uptrend level.
On the H1 timeframe, oil prices move near the middle band line, the price appears to be falling from near the upper band line trying to touch the lower band line.
Here the Bollinger bands form an upward channel with expanding bands indicating high market volatility.
MA 50 forms a flat channel near the price between the upper and middle band lines indicating a sideways market.
Meanwhile, the RSI indicator shows level 51 drawing a descending line indicating that prices are moving above the uptrend level with the possibility of a reversal.
Support and resistance
The closest support is based on the lower band at 84.00 and the support is based on the upper band at roughly 86.00.
In the daily period the support zone is near the middle band at roughly 83.50 and the resistance is above 87.00