Crude Oil Market Analysis:
Crude oil fell again, in line with our expectations. Today's crude oil price remains bearish. Sell on any rebound. The strategy for crude oil remains to follow the market. Consider selling if crude oil rebounds to 62.50 today. This level has been successfully suppressed. The impact of crude oil inventory data is only temporary. There are no recent data that will have a significant impact on crude oil prices. Focus on the impact of the Federal Reserve's monetary policy.
Fundamental Analysis:
The previous smooth Sino-US trade negotiations were positive for the US dollar, leading to a sharp drop in gold's safe-haven sentiment. Another major data point this week is the Federal Reserve's monetary policy.
Trading Recommendations:
Crude oil: Sell around 62.50, target 60.00-58.00.
Crude oil fell again, in line with our expectations. Today's crude oil price remains bearish. Sell on any rebound. The strategy for crude oil remains to follow the market. Consider selling if crude oil rebounds to 62.50 today. This level has been successfully suppressed. The impact of crude oil inventory data is only temporary. There are no recent data that will have a significant impact on crude oil prices. Focus on the impact of the Federal Reserve's monetary policy.
Fundamental Analysis:
The previous smooth Sino-US trade negotiations were positive for the US dollar, leading to a sharp drop in gold's safe-haven sentiment. Another major data point this week is the Federal Reserve's monetary policy.
Trading Recommendations:
Crude oil: Sell around 62.50, target 60.00-58.00.
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.