The United States' comprehensive tariffs on Asia could affect global economic growth and oil demand, leading to oversupply and increasing pressure on oil prices. The US-Canada trade war and additional sanctions on Russia and Iran will increase volatility in the oil market. On March 18, the price of imported goods in the United States unexpectedly rose again, indicating that inflationary pressures persist. Data released on Tuesday showed that import prices rose 0.4% in February, and prices are expected to be roughly the same this month as last month. The 0.4% price increase matches the 0.3% price increase last month, indicating that price increases have not stopped. The growth in import prices was driven by rising fuel import prices, among which natural gas prices soared again and made an important contribution. Crude oil rose first and then fell on Tuesday, and the highest point reached $68.7 and was under pressure. There is a probability that oil prices will further test the previous high, but the upper resistance level is still relatively obvious. Consider the high-altitude and low-multiple strategy for today's operation.
Crude oil plan: Crude oil retreats to 67.0 to go long, with a target of 68.2-68.7 and a stop loss of 66.5.
If the oil price falls below $67.0/barrel, it will stop the expected bullish trend and push the oil price back to the main shock trend.
It is expected that today's oil price will be traded between the support level of $67.2/barrel and the resistance level of $68.7/barrel.
If you don't know when to enter the market, you can follow me. I will release the specific signal in real time, so stay tuned. .
Crude oil plan: Crude oil retreats to 67.0 to go long, with a target of 68.2-68.7 and a stop loss of 66.5.
If the oil price falls below $67.0/barrel, it will stop the expected bullish trend and push the oil price back to the main shock trend.
It is expected that today's oil price will be traded between the support level of $67.2/barrel and the resistance level of $68.7/barrel.
If you don't know when to enter the market, you can follow me. I will release the specific signal in real time, so stay tuned. .
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Continuously release precise trading plans to lead members to expand profits, with a stable profit of 988% every month. If you have not made a profit yet, then join us. t.me/fahsufnwks
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.