I’m considering a short position on crude oil, driven by two key macroeconomic factors:
China’s Economic Slowdown: Weakening demand from China, the world’s largest oil importer, continues to pressure oil prices. Recent data shows slower-than-expected economic recovery, signaling reduced energy consumption.
Easing Geopolitical Tensions: With Middle East geopolitical risks subsiding, concerns over potential supply disruptions have diminished, adding to bearish sentiment in the oil market.
Let me know your thoughts or if you’re seeing additional factors that could influence this trade! 🛢️📉
Trade closed: target reached
Regarding oil, given the potential presidency of Mr. Trump and the likelihood of increased oil supply from the U.S., it appears that oil may no longer retain its status as a strategic commodity. Additionally, China’s economic conditions remain less than favorable. Therefore, I continue to look for short opportunities in oil. If a suitable setup emerges next week, I will share the analysis on my Telegram channel.
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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.