CRUDEOIL - BULLISH TRADE - AUG 7

7. Aug.

Technical Analysis: Crude Oil (1-Hour Timeframe)

Short-Term Outlook: Bullish

Trade Setup:

Support: 6233
Resistance Levels: 6300, 6350
Stop Loss: 10-20 points below entry

Rationale:
Crude oil is showing a bullish trend above the key support level at 6233. As long as the price remains above this level, the outlook remains positive. The next resistance levels to watch are 6300 and 6350. A stop loss placed at 10 - 20points below the entry price helps manage risk effectively.

Risk Management: make sure to put stoploss

Disclaimer: This is a technical analysis based on the provided data and should not be considered financial advice. Trading involves risk, and past performance is not indicative of future results.

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