Crude Oil Market Analysis:
Crude oil is currently consolidating on the daily chart. Continue to sell on rallies. Our overall strategy remains bearish, and trading has been within a small range. Daily price fluctuations are limited, and we're not using a contract range-bound strategy. We recommend selling at higher prices. Yesterday's crude oil inventory data did not change the overall direction of crude oil. Sell again around 61.00 today.
Fundamental Analysis:
Yesterday's ADP employment data was 4.8%, compared to a previous forecast of -2.9. The positive data is generally considered favorable for selling gold, but gold only saw a small rebound with limited impact.
Trading Recommendation:
Crude Oil – Sell around 61.00, target 58.00-57.00
Crude oil is currently consolidating on the daily chart. Continue to sell on rallies. Our overall strategy remains bearish, and trading has been within a small range. Daily price fluctuations are limited, and we're not using a contract range-bound strategy. We recommend selling at higher prices. Yesterday's crude oil inventory data did not change the overall direction of crude oil. Sell again around 61.00 today.
Fundamental Analysis:
Yesterday's ADP employment data was 4.8%, compared to a previous forecast of -2.9. The positive data is generally considered favorable for selling gold, but gold only saw a small rebound with limited impact.
Trading Recommendation:
Crude Oil – Sell around 61.00, target 58.00-57.00
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.