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Usoilforecast

USOIL: Consolidation First, Breakout Next After crude oil plummeted last week to a low near 58.1, it rebounded on Friday and closed around 59.5, basically confirming a consolidating trend. For this week, crude oil is expected to first trade in a low-range consolidation before assessing the potential for a unilateral move. Focus on the 58 level as support below and 62 as resistance above; trade within this range using a "buy low and sell high" strategy. Go long around the 58.2 level. Go short around the 61.8 level. If the price breaks out of this range, then look for a unilateral trend to follow.
TVC:USOILShort
by KingArthur_
Bearish USOIL: 58 at RiskUSOIL extended the previous session's decline today, showing an overall weak fluctuating downward trend. The core bearish factor of oversupply continues to weigh, with a lack of short-term rebound momentum. On the indicator front, the 9-day EMA has crossed below the 20-day EMA, forming a short-term death cross signal, indicating that the downward trend is likely to continue. The 14-day RSI hovers around 40, remaining in a downward channel with no oversold rebound signals, suggesting that bears still hold the initiative and there is no large-scale entry of bottom-fishing funds. In terms of resistance and support, short-term rebound resistance is concentrated at the pivot point of 59.28 and the 59.50-60 range. As a key integer level, failure to reclaim 60 will see bearish sentiment continue to spread. For support below, focus first on 55.7; if the 58 level is broken, a accelerated drop to this support level is highly likely. Trading Strategy: Buy 58 - 58.3 SL 58 TP 59 - 59.5 - 60 Sell 59.5 - 60 SL 60.5 TP 58.5 - 58 - 57.5
TVC:USOILShort
by KingArthur_
USOIL: Fluctuating declineCrude oil showed a trend of fluctuating decline today, breaking through key support levels, with a clear bearish dominance. Key support below: In the short term, attention should be paid to the $59.00 integer mark. If this level is breached, oil prices may further drop to $58.00. Resistance levels for rebound: If there is a technical rebound in oil prices, the first resistance level is at $60.50, and the second resistance level is at $61.50, with limited rebound space. Trading Strategy: Buy 59 - 59.5 SL 58.5 TP 60 - 60.5 - 61 Sell 60.5 - 61 SL 61.5 TP 59.1 - 58.5
TVC:USOILShort
by KingArthur_
Crude oil: Consolidating sideways in the short term.Crude oil prices once hit a low not seen in over two weeks. In early trading on Monday, prices remained below the psychological threshold of $60 per barrel. Therefore, bullish traders should exercise caution before going long and adopt a prudent approach to positioning in anticipation of any substantial upward movement. Crude oil is oscillating within a range in the short term. Prices have repeatedly crossed the moving average system, with the short-term objective trend direction being sideways consolidation. The MACD indicator is hovering around the zero line, reflecting a stalemate between bullish and bearish momentum. With oil prices trading in the middle of the range in early trading, it is expected that intraday crude oil movement will remain within the range, and a range-bound trading strategy is recommended. Buy 58.8 - 59.3 SL 58.3 TP 59.8 - 60.3 - 61 Sell 60.4 - 61 SL 61.5 TP 59.1 - 58.5
TVC:USOIL
by KingArthur_
Crude oil: test the upside potentialAfter completing the consolidation and foundation-building phase yesterday, crude oil has maintained a fluctuating upward trend today. We will continue to monitor the strength and effectiveness of the rebound. Based on the momentum of the consolidation, crude oil should be able to extend its gains today. If the momentum is strong, it could reach around 61. Therefore, from a short-term perspective, we can still take long positions to test the upside potential. Buy 58.8 - 59.3 SL 58.3 TP 59.8 - 60.3 - 61 Sell 61 - 60.5 SL 61.5 TP 59.5 - 59 - 58.5
TVC:USOILLong
by KingArthur_
Crude oil's downward space is expandingDue to a significant increase in U.S. crude oil inventories, WTI prices have extended their decline. In the short term, crude oil’s trend saw a seesaw battle between bulls and bears near the lower edge of the range, with frequent shifts in momentum. Eventually, the bears prevailed, sending prices lower. The moving averages are in a bearish alignment, indicating an objectively downward short-term trend. Oil prices have broken below the 60 support level. It is expected that crude oil’s intraday trend will continue to expand downward. And the short-term support is 58.5,If it breaks below 58.5, focus on the support level at 57.5, while resistance above is at 60.8. Buy 58.5 - 58.8 SL 58 TP 59.3 - 59.8 - 60.3 Sell 60.5 - 60 SL 61 TP 59 - 58.5 - 58
TVC:USOILShort
by KingArthur_
Crude Oil Trading Strategy for TodayThe cooling of inflation data strengthens the logic of a rate cut. The core PCE price index in the United States rose by 2.8% year-on-year in October (lower than the expected 3.0%), reaching a new low since March 2023 and remaining below 3% for three consecutive months, confirming that inflation is approaching the Fed's 2% target. The probability of a 25BP rate cut in December has risen from 65% to 82%, and the cumulative rate cut expectation for 2026 has reached 125BP. In a liquidity-lean environment, the valuation attractiveness of crude oil as a risky asset has significantly increased - historical data shows that the average increase in WTI oil prices during the rate-cut cycle is 12%-15%, and the current price of $61.21 is still in the early stage of valuation recovery.​ The US dollar index is under pressure, and the expectation of non-US demand release is expected. The US dollar index has fallen by 3.2% from its October high and is currently stabilizing below the 92.5 mark. The purchasing power of non-US currencies has rebounded. The purchasing costs of oil-importing countries such as India and China have decreased. In November, India's oil imports are expected to increase by 6% month-on-month (to 5.2 million barrels per day), and China's refineries have received new quotas in November (an additional 12 million tons), and the policy-driven replenishment demand will directly support oil purchases, forming a positive cycle of "weak US dollar - increased purchases - oil price rise". Crude Oil Trading Strategy for Today buy：60.5-61 tp:61.5-62 sl:60
TVC:USOILLong
by Ryan_Lewis1
The attack committee's risk has triggered supply anxietyDirect supply disruption risk: 900,000 barrels/day capacity at risk of zeroing out The current daily crude oil production in Venezuela is 940,000 barrels (accounting for 0.9% of the global total). Although the absolute scale is limited, as the only OPEC oil-producing country not subject to production quotas, its production capacity has strategic resilience. Actions such as the arrival of US B-1B bombers and the deployment of the "Ford" aircraft carrier strike group in the Caribbean Sea, if escalated to military strikes, the core facilities of PDVSA, such as Lake Maracaibo oil field (accounting for 60% of the capacity) and Jose Port (the only deep-water oil port), will be directly paralyzed. Short-term exports may drop from 900,000 barrels/day to zero, forming a dual supply shock of "sanctions + war". Replacement supply gap difficult to fill: OPEC+ remaining capacity in crisis Currently, the total remaining capacity of OPEC+ is only 210,000 barrels/day, and it is concentrated in Saudi Arabia (180,000 barrels/day). If combined with the sanctions on Iran and disruptions in Red Sea transportation, Saudi Arabia needs to increase production by 170,000 barrels/day to fill the gap, which is close to its maximum idle capacity limit. Although US shale oil has potential, due to capital discipline restrictions, the maximum monthly increase in production is only 30,000 barrels/day, far from covering the supply vacuum in Venezuela. The price spread of heavy crude oil (the main type in Venezuela) has expanded from 1.2 US dollars to 1.8 US dollars, and structural tension has emerged. Market sentiment preview: Risk premium accelerating inclusion Historical data shows that after the US imposed sanctions on PDVSA in 2019, the weekly fluctuation range of oil prices expanded to 8%; while the impact intensity of military conflicts is 3-5 times that of sanctions - the oil facilities in Iran were attacked in 2019 (similar supply disruption), pushing oil prices to surge by 7.3% in a single day. Currently, the CFTC crude oil volatility index has risen from 18 to 25, and funds have begun to layout geopolitical risks in advance. The premium of near-month contracts over far-month contracts has expanded to 1.2 US dollars, reflecting short-term supply concerns. Next week's crude oil trading strategy buy：59.5-60 tp:61-61.50 sl:58.5
TVC:USOILLong
by Ryan_Lewis1
Crude Oil Trading Strategy for TodayThe conflict between Russia and Ukraine continues, and the reconstruction of supply chains takes a long time. The short-term conflict between Russia and Ukraine is unlikely to be resolved. Russian oil needs to rely on shadow fleets for transportation, but currently the discount is only 1-2 US dollars (far lower than the historical level of 10-20 US dollars), and there is insufficient willingness from third parties to take over. The reconstruction of supply chains is expected to take more than 3 months, and during this period, a supply gap of 100-150 thousand barrels per day will continue to support oil prices. The expectation of the Fed's interest rate cut has risen, and loose liquidity is beneficial. The market expects a higher probability of the Fed cutting interest rates in November and December. The loose liquidity environment will be beneficial for crude oil and other risky assets, while lowering the US dollar index and reducing the purchase cost of non-US currencies, stimulating the demand for replenishment in emerging markets. Crude Oil Trading Strategy for Today buy：59.5-60 tp:61-61.560 sl:58.5
TVC:USOILLong
by Ryan_Lewis1
Crude Oil Trading Strategy for TodayExcess inventory reduction exceeded expectations, and the resilience of demand was continuously verified The latest EIA data shows (as of the week ending October 31), U.S. crude oil inventories decreased by 4.5 million barrels on a month-on-month basis (expected - 1.8 million barrels), and inventories have exceeded expectations for two consecutive weeks of reduction; gasoline inventories decreased by 3.2 million barrels (the largest decline in the same period since November, nearly 5-year low), refined oil inventories decreased by 2.8 million barrels, and inventories of the three major oil products were all below the 5-year average by 10%-15%. The inventory in the Cushing region increased by 800,000 barrels, but the overall reduction trend did not change, and the marginal tight balance feature of supply and demand was prominent. Increased risk of Red Sea transportation, intensified supply chain disruptions The Houthi armed group has recently intensified attacks on Red Sea merchant ships. Since November, 5 oil tanker ships have been attacked, and some oil tankers were forced to take a detour around the Cape of Good Hope (the voyage increased by 30%, transportation cost increased by 200,000 US dollars per ship). Currently, Red Sea crude oil transportation accounts for 12% of the global total. If the situation worsens, it may add 50-80 thousand barrels per day of supply disruptions. The expectation for Fed rate cuts has risen again, and the US dollar is under pressure, which benefits oil prices The U.S. 10-month CPI increased by 3.2% (lower than the expected 3.3%), and the core CPI increased by 2.9% (the lowest since January 2023), and the probability of the Fed cutting interest rates by 25 basis points in December from 55% rose to 78%. The US dollar index fell below the 93 threshold, the cost of purchasing non-US currencies decreased, and China and India's crude oil imports are expected to increase by 5%-8% month-on-month in November. Crude Oil Trading Strategy for Today buy：59.5-60 tp:61-61.560 sl:58.5
TVC:USOILLong
by Ryan_Lewis1
2
Crude Oil Trading Strategy for TodayThe current WTI oil price of $61.2 is not merely a fluctuation center, but rather a "multiplier window" formed by the resonance of three core variables - "cost floor, geopolitical breakthrough, and sentiment correction" - indicating a "structural contradiction-driven short-term trend". It is clear that this is a "wave-like market phenomenon" rather than a trend reversal. However, the short-term upward momentum is highly certain: The cost floor is clearly defined, with $60 being the "iron bottom". The new well production break-even cost of US shale oil has reached $63 per barrel. The current price of $61.2 is already below the marginal production cost line. From the data, the number of active oil drilling rigs in the US has dropped to 424 (a decrease of 60 compared to the previous year), and if the oil price remains below $60, the shale oil production may be reduced by 1-1.5 million barrels per day next year. The supply contraction expectation has been priced in in advance. At the same time, non-OECD countries are accelerating their replenishment of stocks at low prices, forming "non-tradable inventories" to absorb excess supply, further strengthening the support at $60. The geopolitical sanctions are intensifying, leading to a structural rift in the supply side. After the US imposed secondary sanctions on Russian oil, India's 1.7 million barrels per day Russian oil long-term contract faces the risk of termination. This part of the demand is now shifting to the spot market in the Middle East, directly pushing the Dubai crude oil premium to $2.1 per barrel (a 3-month high). More importantly, the actual spare capacity of OPEC+ has been seriously overestimated - Saudi Arabia's actual spare capacity is only 60-100 thousand barrels per day, far below the claimed 2.43 million barrels per day, and the OPEC+ has only increased production by 61% for five consecutive months, highlighting the capacity bottleneck and inability to fill potential supply gaps. The market sentiment is overly pessimistic, with a significant recovery space. As of October 23rd, the speculative net long position has dropped to a historical low. When Brent oil price fell below $60, 80% of traders held a bearish stance, forming a typical "extreme emotional state". However, the month spread structure still remains positive (Backwardation), not entering the Contango structure, indicating that the spot market does not have a real surplus. The previous decline was more dominated by sentiment, and the demand for recovery is strong. Crude Oil Trading Strategy for Today buy:61-61.3 tp:61.6-61.9 SL:60
TVC:USOILLong
by Ryan_Lewis1
Review of USOIL's Performance This Week📝This week, the USOil market exhibited a highly volatile pattern of "first bottoming out and stabilizing, then rebounding driven by geopolitical factors". The competition between supply-demand fundamentals and sudden geopolitical events dominated the market trend throughout the week. Details are as follows: 💡Price Movement: From Approaching Annual Lows to Intraday Surges, Volatility Within Ranges Intensifies 1. Bottoming Out Early in the Week On Monday, USOil continued its weak oscillation. It opened at $57.32 per barrel, dipped to a low of around $56 per barrel (approaching the 2025 annual low of $55.12), and finally closed at $56.93 per barrel, down $0.61 from the previous trading day. From Tuesday to Wednesday, as panic eased, prices gradually stabilized and rebounded. It closed at $57.58 per barrel on Tuesday; on Wednesday, boosted by geopolitical expectations, it surged by $3.25 in a single day to close at $61.75 per barrel, with trading volume rising to 711,600 lots. 2. Rebounding and Then Retreating in the Latter Half of the Week On Thursday, the official release of detailed EU and U.S. sanctions on Russian energy triggered a strong market reaction. USOil opened at $59.94 per barrel and then jumped, peaking at $62.59 per barrel with an intraday gain of nearly 5%, before closing at $61.44 per barrel. On Friday, after the earlier rebound, prices entered a consolidation phase, fluctuating narrowly around $62. For the whole week, it rebounded by over 10% from the previous week’s low. 💡Core Influencing Factors: 1. Bearish Drivers: Sustained Supply-Demand Easing Suppresses Oil Prices ✔Worsening Supply Glut ✔Weak Demand Weighs on Prices 2. Bullish Disturbances: Geopolitical Sanctions Trigger a Phased Rebo 💡Technicals and Market Sentiment: Recovery After Oversold Conditions, Persistent Long-Short Divisions 1. Divergent Signals from Technical Indicators 2. Intense Battles Around Key Levels The support at the annual low of $55.12 proved effective, serving as the starting point for the week’s bottoming and rebound. The resistance levels at $58 and $62 were breached one after another, but the resistance from the $63 level and the 70-dollar trend line still posed long-term pressure. A breakthrough would require sustained improvement in fundamental 💡Outlook: Short-Term Oscillations Unlikely to Reverse Long-Term Weak Trend 💎Short-Term Perspective: Geopolitical risk premiums and technical recovery after oversold conditions may support oil prices to fluctuate within the $58-$63 range. If the supply gap caused by sanctions continues to widen, it may test the resistance level of $66. 💎Long-Term Perspective: The IEA predicts that Brent crude oil prices will range between $52-$60 in 2026. Core contradictions such as loose supply-demand, accelerated energy transition, and approaching demand peaks remain unresolved. If the support at $55 is broken, it may fall to the deep correction range of $49 or even $37. The market should focus on whether OPEC+ will adjust its production increase plan at the November 2 meeting and the impact of global manufacturing PMI data on demand expectations.
CFI:WTILong
by Clarke_analysis
Analysis of crude oil trend next week.Short-term positive factors: "Effective Cycle" and "Support Strength" The actual impact of Russian sanctions: Supply gap could reach 1.5 million barrels per day The new sanctions imposed by the US and Europe on October 22 directly cover the overseas settlement accounts of Russian oil companies (Rosneft) and Lukoil. These two companies collectively control 50% of Russia's crude oil exports (approximately 3 million barrels per day). Currently, major buyers such as India and Turkey have suspended the purchase of crude oil from these two companies and turned to the Middle East market, resulting in the spot premium in the Middle East rising from $1.2 per barrel to $2.5 per barrel. However, it should be noted: Russia can transfer part of its exports to China and Iran through "non-dollar settlement", and the actual supply gap may shrink to 100-120 million barrels per day. The positive support is likely to last for 1-2 weeks, after which the market will gradually adapt to the new supply pattern.​ "Realistic Support" of Inventory and Refinery Data According to the US EIA data, as of October 18 of the current week, crude oil inventories decreased by 960,000 barrels (expected to decrease by 500,000 barrels), and the refinery utilization rate rose from 86.8% to 88.6%, reaching a 3-month high. This is due to the end of the seasonal maintenance of US refineries (the maintenance rate in September was 15%, and it dropped to 8% in October), combined with the start of heating oil demand in the Northern Hemisphere (heating oil inventories in October decreased by 8% year-on-year), short-term crude oil purchase demand will remain at a high level, and it can support prices at least until mid-November. Crude Oil Trading Strategy for Next Week usoil @buy 60.5-61.0 tp:62-62.5 SL:59.5
TVC:USOILLong
by Ryan_Lewis1
USOIL: Go long on pullbacksGeopolitical 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
CFI:WTILong
by Clarke_analysis
Where Does the Short-Term Confidence for Going Long Come From?​Geopolitical Conflicts "Continue to Drive Momentum" – Supply Worries Persist​ The U.S. has just imposed sanctions on two major Russian oil giants, which account for 50% of Russia’s crude oil exports. This could mean a daily reduction of 1.5 million barrels in global supply, and the market is worried about "insufficient oil". A prime example: when Ukrainian forces attacked Russian refineries earlier, daily exports dropped by 1 million barrels, and oil prices rose 2% the same day. Now, such sanctions are still escalating, which will firmly support oil prices in the short term and prevent a sharp decline.​ Demand Data Offers "Genuine" Positives – Strong Floor Support​ U.S. crude oil inventories have decreased by 960,000 barrels, and refinery utilization rate has risen to 88.6% – this clearly shows "more oil is being consumed than produced", so the current price increase is not unfounded. Meanwhile, China’s refinery utilization rate has also climbed from 86% to 88%, and there is a requirement to ensure refined oil supply in the fourth quarter. This means demand for crude oil will only increase, not decrease, adding a "safety cushion" for long positions. Even if there is a short-term pullback, the decline will be very limited. Crude Oil Trading Strategy for Today usoil @buy 62.0-62.3 tp:62.5-62.8 sl:61.8
TVC:USOILLong
by Ryan_Lewis1
Crude oil shows an optimistic upward trend📈The situation of crude oil is relatively optimistic, showing an upward trend, mainly affected by geopolitics and supply-demand relationships. 💡Geopolitical factors: The United States has imposed sanctions on Russian oil companies, and the European Union's sanctions against Russia are also continuing. At the same time, the news that the United States intends to take military action against Venezuela has fermented, triggering market concerns about disruptions in crude oil supply and boosting oil prices. 💡Supply-demand factors: On the one hand, OPEC announced at a new round of meetings that it would continue to increase production by 137,000 barrels, but the scale of production increase is relatively small, and the production increase capacity of some oil-producing countries is limited, which alleviates the pressure of oversupply. On the other hand, as of October 17th, the EIA crude oil inventory data decreased by 960,000 barrels, the gasoline inventory decreased by 21.05 million barrels per day, and the distillate oil inventory decreased by 1.48 million barrels per day. The decrease in inventory has provided some support for oil prices. However, the weakness of the global economy has made the long-term demand outlook bleak, which has suppressed the increase in oil prices to a certain extent. 💡Technical analysis: From the daily line level, the daily K-line shows a trend of breaking below the previous low point and then recovering, and the weekly K-line forms a rising sun pattern, indicating that there is a possibility of continued rebound in prices in the short term. At the same time, the medium-term indicator MACD supports an upward trend, also indicating that the short-term trend is upward. 💎Trading Strategy: Buy 60 SL 61.5 TP 59 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
CFI:WTILong
by Clarke_analysis
USOIL : Full analysisHello friends Well, considering the sharp decline we had, the price has entered a descending channel and is slowly going down in this channel. Now the price has reached a critical point, namely the bottom of the channel. We need to see if buyers will support the price at the bottom of the channel like the previous two times or not? If we do not see support from buyers and the channel is broken, we can expect lower prices. 56.30 and 53 dollars respectively. But we will most likely see buyers' support in this area and the price could even reach the channel ceiling. *Trade safely with us*
TVC:USOILLong
by TheHunters_Company
Crude oil trading strategy for today. Hope it is helpful to youWhy Is the $60.13 Level Suitable for a Long Position in Crude Oil?​ Currently, crude oil prices have stabilized above the $60 mark. Although there are still concerns about "excess supply" in the market, from the perspective of short-term opportunities, two key signals support our attempt to take a long position—we should not be constrained by the previous "weak market" mindset:​ 1. Escalating Risks of Geopolitical Conflicts​ Ukraine has stepped up attacks on Russia's oil facilities. Recently, it has knocked out two large Russian oil refineries, pushing Russia's oil refining volume to a two-year low. If key oil pipelines are affected in the future, or if the conflict between Israel and Lebanon in the Middle East expands to disrupt transportation in the Persian Gulf, the market will immediately worry about "insufficient oil supply," and oil prices are likely to surge rapidly. For reference, after Israel's air strike on Iranian facilities in June, oil prices soared by 6.9% in a single day—such sudden opportunities are worth seizing.​ 2. OPEC+ Lacks Momentum for Further Production Increases​ Although OPEC+ plans to increase production by 137,000 barrels per month from October to November, most oil-producing countries have no spare production capacity left. Back in May, the actual production increase only reached 45% of the planned amount. Recently, there have been reports that OPEC+ is discussing "suspending subsequent production increases" internally. If it clearly announces the suspension of production increases (or even resumes production cuts) at its meeting, the pressure from excess supply will be significantly relieved, and oil prices will gain stronger momentum to rise. Crude Oil Trading Strategy for Today usoil @ buy60.00-60.50 pt:61-61.50 sl:59
TVC:USOILLong
by Ryan_Lewis1
USOIL fluctuates higher💡The situation for USOIL today is relatively optimistic, showing a fluctuating and moderately strong trend. Here is the detailed analysis: 📈Price Trend: As of midday in the Asian session on October 22, WTI crude oil prices have edged higher in the short term, trading around $58.1, up from the previous day's closing price. WTI crude closed 1.14% higher at $57.962 the previous day. ♦Influencing Factors: Supply Side: The U.S. Department of Energy announced a tender to purchase 1 million barrels of crude oil to replenish the Strategic Petroleum Reserve. This news boosted sentiment in the energy sector and provided support for oil prices. ♦Demand Side: API data showed a decline in U.S. inventory levels last week, which improved market sentiment toward demand and also supported higher oil prices. ♦Macroeconomy: Expectations of a Federal Reserve rate cut continue to rise, with a 98.9% probability of a 25-basis-point rate cut in October. Capital has been flowing back into risk assets, providing some impetus to crude oil prices. ♦Geopolitics: Europe and Ukraine have drafted a 12-point ceasefire plan. Expectations of eased geopolitical tensions temporarily weakened safe-haven demand, indirectly supporting a stronger U.S. dollar and thus exerting some pressure on oil prices. However, factors such as the U.S. oil purchase news and the drop in API crude inventories have provided more significant support for oil prices. ♦Technical Analysis: Short-term moving averages show signs of flattening, indicating that the crude oil price trend may be stabilizing. Oil prices are inclined to fluctuate with moderate strength in the short term today. The short-term resistance level above is around 59.0-60.0, while the short-term support level below is around 56.0-55.0. 💎Trading Strategy: Sell 58.00 SL 58.60 TP 57.00 Buy 57.5 SL 56.8 TP 58.5 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
CFI:WTILong
by Clarke_analysis