Crude Oil Market Analysis:
Crude oil has been declining recently and has reached strong support near 55. A break of this level would open up further downside. Today's outlook for crude oil remains bearish. Continue selling on minor rebounds, focusing on selling opportunities around 58.90. The new contract also bearishly suggests no buying opportunities. This selling strategy has persisted for a long time.
Fundamental Analysis:
The Federal Reserve has once again implemented loose monetary policy, and with the added support of CPI, market uncertainty is high, prompting a surge in gold prices.
Trading Recommendations:
Crude oil: Sell around 58.60, target 56.00-55.00
Crude oil has been declining recently and has reached strong support near 55. A break of this level would open up further downside. Today's outlook for crude oil remains bearish. Continue selling on minor rebounds, focusing on selling opportunities around 58.90. The new contract also bearishly suggests no buying opportunities. This selling strategy has persisted for a long time.
Fundamental Analysis:
The Federal Reserve has once again implemented loose monetary policy, and with the added support of CPI, market uncertainty is high, prompting a surge in gold prices.
Trading Recommendations:
Crude oil: Sell around 58.60, target 56.00-55.00
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.