usoil80.70 bottomed out and continued to rise during the day
WTI crude found support at $80.63 and jumped higher. Oil traders believe demand may pick up and supply risks increase due to geopolitical woes. The U.S. dollar index is trading above 104.00, but is slightly weaker. Looking at crude oil on the daily chart, after reaching a new high of 83.60, oil prices have fallen back and adjusted. The strength of its pullback is limited. The moving average system still maintains a bullish arrangement, and the mid-term objective trend remains upward. It is expected that crude oil will enter a shock adjustment around the high of 83.60, form a secondary rhythm, accumulate upward momentum, and continue to move upward. The short-term (1H) trend of crude oil bottomed out many times at 80.70 to find support, and finally rebounded upward. The moving average system turns upward and the short-term objective trend is upward. In early Asian trading, oil prices were operating at a minor shock pace around 82.80, with bullish momentum taking the upper hand. It is expected that the short-term trend of crude oil will continue to rebound during the day, showing a wave of upward space.
oil:buy82-82.5
tp:83.5-83
sl:81.2
Comment:
Russian government-ordered curbs on oil production and attacks on Russian and Ukrainian energy infrastructure offset U.N. demands for a ceasefire in Gaza
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Comment:
Usoil rises, you can do it
Comment:
You can buy it now, I believe it will definitely rise
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