Oil Faces Resistance at $80, Potential Reversal in Sight
Oil finds resistance at the upper parallel of the long bearish channel around the $80 area. A reversal can be confirmed following a breakout of this resistance level. Currently, demand uncertainty continues to weigh on oil movements.
Resistance 3 |
Resistance 2 |
Resistance 1 |
Support 1 |
Support 2 |
Support 3 |
84 |
82 |
80 |
78 |
73 |
70 |