Oil price has moved on the four-hour frame in a downtrend since mid-February last from 54.50 levels with the sharp decline that saved prices due to the resulting crisis between Saudi Arabia and Russia from increasing production until The price reached 19.25 late last month
The price managed to break a falling channel from a peak formed after the price gap, but with the rise, it collided with another price channel from the top of February
The price was able to break the 26.10 level, which reflects the decline of February 2016, but it was not able to close above
This is a breach of the descending channel, in addition to the daily closing. The highest level of 26.10 will be expected to fill the price gap that occurred last month.