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Hello everyone, Monday market is open, starting new hope this week.
Oil price still trades steady near 80 level prices. Oil price at the time of writing at 80.84 based on the XTIUSD chart FXOpen in Tradingview.
Oil prices are still unchanged since breaking the upper band line a few days ago, Reuters writing oil steadies because economic fears counter OPEC+ cuts.
XTIUSD Technical analysis
Oil prices still traded in a low trading range between 81.49 and 79 level prices. Now the price move below the upper band line.
In the daily timeframe, the oil price has steady movement near the upper band line above MA and middle band line. while Bollinger's band draws a wide range indicating high volatile market occurs from the histories. Based MA line now the trend is above the bullish zone. While RSI shows a level of 65 which means the price is above the uptrend zone level near the overbought zone level.
In the H1 timeframe, oil price we can see the Bollinger band squeeze waiting for the price breakout, and the oil market seems to be long time sleep in a flat market. While the RSI level shows the number 57 which means the price is above the uptrend zone level.
Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
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Oil price still trades steady near 80 level prices. Oil price at the time of writing at 80.84 based on the XTIUSD chart FXOpen in Tradingview.
Oil prices are still unchanged since breaking the upper band line a few days ago, Reuters writing oil steadies because economic fears counter OPEC+ cuts.
XTIUSD Technical analysis
Oil prices still traded in a low trading range between 81.49 and 79 level prices. Now the price move below the upper band line.
In the daily timeframe, the oil price has steady movement near the upper band line above MA and middle band line. while Bollinger's band draws a wide range indicating high volatile market occurs from the histories. Based MA line now the trend is above the bullish zone. While RSI shows a level of 65 which means the price is above the uptrend zone level near the overbought zone level.
In the H1 timeframe, oil price we can see the Bollinger band squeeze waiting for the price breakout, and the oil market seems to be long time sleep in a flat market. While the RSI level shows the number 57 which means the price is above the uptrend zone level.
Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
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