Technical analysis of (Brent) oil in the 4-hour time frame:
The chart of the oil pair (Brent) shows that the trend on the mentioned time frame (4 hours) is bullish. This means that the prices are moving in an upward direction over the specified time range.
In light of this, the expectation of the upcoming price movement tends towards the continuation of the bullish trend. However, you should watch the important resistances on the chart, as they may influence the current bullish trend.
1. The resistance level at 81.16:
If the oil pair managed to break the resistance level at 81.16 with success, that might confirm the strength of the bullish trend and open the door for more gains to the upside. In this case, we can expect the price to target the next resistances at 82.00 and 83.00.
2. The resistance level at 83.41:
This level is a very strong resistance level on the chart. If oil prices succeeded in steadily breaching this level, then this could confirm the strengthening of the bullish trend strongly, and could open the door to higher rises towards 85.00 and 86.00 or more.
It is important to monitor the momentum indicators and ensure the strength of the bullish trend before making any trading decisions. Market news and important economic events should also be followed, as these factors can influence oil price trends.
As a result, it is always advised to apply careful cash management and use of stop loss to conserve capital and reduce risks during trading operations.
