Daily Analysis For Crude (USOIL)  26-08-2022

Daily Analysis For Crude (USOIL) 26-08-2022

Crude Oil (WTI Crude Oil) Analysis Crude Oil (WTI Crude Oil) Economic Events and Scenario for Crude Oil Economic Events :-
GMTEventCurrency
13:30-(United States) PCE Price Index YoYUSD
13:30-(United States) PCE Price Index MoMUSD
13:30-(United States) Personal Income MoMUSD
13:30-(United States) Personal Spending MoMUSD
13:30-(United States) Goods Trade BalanceUSD
13:30-(United States) Wholesale Inventories MoMUSD
13:30-(United States) Retail Inventories Ex Autos MoMUSD
15:00-(United States) Michigan Consumer SentimentUSD
15:00-(United States) Fed Chair Powell SpeechUSD

Today's Scenario :- After recording a three-day bottom of $92.16 during the Asian session, West Texas Intermediate (WTI), futures on the NYMEX, have briefly pulled back. Since the very first Friday tick, the asset has been rising.

Buy Scenario :- Bulls in Crude Oil may reclaim control if the asset surpasses its high point of $95.10 on August 24. The asset will go toward the psychological resistance at $100.00 and the high point of July 26 at $98.4. Till we do not recommended to buy Crude oil.

Selling Scenario :- If the asset declines below the round-level support around $92.00, the bears will gain more momentum and push it below the highs of August 22 at $90.98 and August 17 at $88.65. Till we do not advise selling WTI Crude US oil.

Support and Resistance Level :-
SupportResistance
S1 92.93-R1 105.59
S2 90.06-R2 108.75
S3 85.41-R3 116.64

Discussion

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