Upcoming weekly OIL analysis
FA Analysis:
1- Based on the recent macro-economic data, US economy is slowing down which it's slowing down the demand.
2- Trump is making pressure on oil producer to reduce the price.
3- US is fully opening their oil production.
4- End of war in Ukraine.
All the above are very Oil bearish factors.
TA Analysis:
1- Price is making LL-LH. A continuation down is expected.
2- Price might continue directly down without making a new LH. $66 is the ST target.
1- Based on the recent macro-economic data, US economy is slowing down which it's slowing down the demand.
2- Trump is making pressure on oil producer to reduce the price.
3- US is fully opening their oil production.
4- End of war in Ukraine.
All the above are very Oil bearish factors.
TA Analysis:
1- Price is making LL-LH. A continuation down is expected.
2- Price might continue directly down without making a new LH. $66 is the ST target.
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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.
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.