Geopolitical risks have dominated short-term market sentiment for crude oil. Investors' concerns about the supply side have overshadowed negative factors on the demand side, driving oil prices to rise consecutively. However, the weak global economy has dimmed the long-term demand outlook, limiting the extent of oil price increases, resulting in relatively complicated overall market sentiment.
From a technical indicator perspective, momentum indicators are showing positive signals, and the MACD is trending upward. This indicates that the bullish bias is strengthening, but a fully established uptrend has not yet formed.
Overall, technical indicators point to a certain bullish tendency, though it is also necessary to monitor the price performance at key resistance levels.
In the short term, focus on the resistance range of 63.5–64.5 on the upside and the support range of 60–61 on the downside. For intraday operations, the main strategy is to go long on pullbacks, with short positions on rebounds as a supplementary approach.
💎Trading Strategy:
Buy 61.8 SL 62.4 TP 61.1
Daily-updated accurate signals are at your disposal. If you run into any problems while trading, these signals serve as a reliable reference—don’t hesitate to use them! I truly hope they bring you significant assistance
From a technical indicator perspective, momentum indicators are showing positive signals, and the MACD is trending upward. This indicates that the bullish bias is strengthening, but a fully established uptrend has not yet formed.
Overall, technical indicators point to a certain bullish tendency, though it is also necessary to monitor the price performance at key resistance levels.
In the short term, focus on the resistance range of 63.5–64.5 on the upside and the support range of 60–61 on the downside. For intraday operations, the main strategy is to go long on pullbacks, with short positions on rebounds as a supplementary approach.
💎Trading Strategy:
Buy 61.8 SL 62.4 TP 61.1
Daily-updated accurate signals are at your disposal. If you run into any problems while trading, these signals serve as a reliable reference—don’t hesitate to use them! I truly hope they bring you significant assistance
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Let profitable trading become easier: t.me/+EZspzjD8FT40YTY8
Daily update professional financial trading strategies: t.me/+6i-kmFunsMVkNzQ0
Let profitable trading become easier: t.me/+EZspzjD8FT40YTY8
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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.
Welcome to join my free channel for market updates: t.me/+EZspzjD8FT40YTY8
Daily update professional financial trading strategies: t.me/+6i-kmFunsMVkNzQ0
Let profitable trading become easier: t.me/+EZspzjD8FT40YTY8
Daily update professional financial trading strategies: t.me/+6i-kmFunsMVkNzQ0
Let profitable trading become easier: t.me/+EZspzjD8FT40YTY8
Related publications
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.
