Oil Rises on Middle East Tensions Capped by Weak Chinese demand
Actualizado
Crude Oil Prices Recover Amid Escalating Middle Eastern Conflict, Weak Chinese Demand Caps Gains
Crude oil prices have found support following a larger-than-expected U.S. interest rate cut, and further escalation of the Middle Eastern conflict could drive prices higher. However, weak demand from China continues to limit potential gains.
Technical Outlook:
As long as the price remains below $71.78, it is expected to stay within the bearish zone, with a potential decline of $68.80. However, a break above $71.78 would signal a bullish shift towards $72.72 and potentially $75.00.
Key Levels:
Pivot Point: 71.35
Support Levels: 70.60, 68.80, 67.70
Resistance Levels: 72.72, 74.25, 75.35
Expected Trading Range: 71.80 - 68.80
Trend: Bearish while the price remains below 71.78
Crude oil prices have found support following a larger-than-expected U.S. interest rate cut, and further escalation of the Middle Eastern conflict could drive prices higher. However, weak demand from China continues to limit potential gains.
Technical Outlook:
As long as the price remains below $71.78, it is expected to stay within the bearish zone, with a potential decline of $68.80. However, a break above $71.78 would signal a bullish shift towards $72.72 and potentially $75.00.
Key Levels:
Pivot Point: 71.35
Support Levels: 70.60, 68.80, 67.70
Resistance Levels: 72.72, 74.25, 75.35
Expected Trading Range: 71.80 - 68.80
Trend: Bearish while the price remains below 71.78
Operación cerrada: objetivo alcanzado
Operación activa
Saudi Commitment to Unwinding Crude Oil Cuts Shifts Balance of Risks
The price dropped perfectly and still running to get 65.85
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