Expectations of tighter crude oil supply and an uncertain economic outlook have caused demand concerns. At the same time, crude oil continues to be hit by the double blow of the appreciation of the US dollar and expectations of interest rate hikes, and the impact of a rapid tightening of supply is offset by market investors' low risk appetite for higher interest rates in the long term.
Oil prices in Asia rose to 91.5. The subsequent trend will rebound and then rise slowly.
The overall market is bullish.
Trade active
Awaiting a break above resistance at 92.43Trade active
Yesterday I said crude oil was trading in a range of 89.5-91.5. At 90.5 I talked about a pullback down, but it backfired. We need to stop losses in time, open new orders and make profits
Trade closed: target reached
Note
The total profit from the 3 orders was US$5,121
Trade closed: target reached
95.03
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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.