$SPCXB is still trading in a short-term downtrend on the daily chart. Price is sitting around 150.44 and remains below the 7-day and 25-day moving averages, which suggests sellers still have the upper hand. However, the recent candles near 145-150 show buyers are trying to defend this support.
Trade Idea (Long if support holds):
Entry: 149.50 – 151.50
Stop Loss: 144.80 (below recent support)
Take Profit 1: 160.00
Take Profit 2: 170.00
Take Profit 3: 178.50
If the price breaks below 145, the bullish setup becomes weak and further downside is possible. For now, watch for a strong bounce above 160 to confirm bullish momentum. Always use proper riskx management and avoid overleveraging. #SPCXB #IEACutsRussiaOilOutputForecast
Trade Idea (Long if support holds):
Entry: 149.50 – 151.50
Stop Loss: 144.80 (below recent support)
Take Profit 1: 160.00
Take Profit 2: 170.00
Take Profit 3: 178.50
If the price breaks below 145, the bullish setup becomes weak and further downside is possible. For now, watch for a strong bounce above 160 to confirm bullish momentum. Always use proper riskx management and avoid overleveraging. #SPCXB #IEACutsRussiaOilOutputForecast
