Welcome back, dear investors, to our weekly crude oil price technical analysis!
Congratulations on your successful strategies in the past period. It’s truly exciting to see oil prices moving exactly as we anticipated!
As we step into the new week, with oil prices successfully breaking through a critical resistance level and surpassing the sideways zone, our next strategy will focus on awaiting a corrective move. Specifically, we will observe whether prices retest the support zone around 72.4 (the previous resistance level). If this support holds strong, oil prices could continue their upward momentum, aiming for the next target at 77.6.
However, the market is always full of surprises. Despite a series of recent victories, we must not become complacent. Always remain vigilant and cautious with every trading decision. The key to sustainable success lies in a combination of knowledge, discipline, and a steady mindset.
Wishing you smart and effective investment strategies! Stay tuned for the next crude oil price analysis!
By Pham Thanh Bien
