Fundamental Analysis: Driven by the trade concerns sparked by Trump and the risk aversion sentiment arising from the global economic slowdown, the trajectory of oil prices has been shaped. Additionally, OPEC+ convened an early meeting on Saturday and confirmed an increase in production of 411,000 barrels per day in June. This decision has indubitably intensified the market's apprehensions regarding the oversupply of crude oil 📉.
Technical Analysis: Technically speaking, the price of crude oil has persistently lingered below the midline of the Bollinger Bands, distinctly indicating that the bearish trend is in the ascendancy 📉. Last week, on the weekly chart, it closed with a substantial bearish candlestick, exhibiting a downward tail pattern, and in the short term, the price has been fluctuating within a trading range 📊. As for the upcoming week's trend, whether the support level established by the previous double doji bottoming formation will be broken through effectively will be the focal point of market attention 👀. Nevertheless, once the price reaches the crucial support level, there exists the potential for a technical rebound. Investors should closely monitor the variations in trading volume and the response of the moving average system 📈.
Market Situation: It is crucial to note that due to the holiday factor in the Asian market next Monday, market liquidity is anticipated to decline significantly. Under such circumstances, the oil price is likely to encounter a higher risk of more pronounced volatility, further escalating the uncertainty of the market situation ⚠️.
⚡⚡⚡ USOIL ⚡⚡⚡
🚀 Buy@56.0 - 57.0
🚀 TP 59.0 - 60.0
Accurate signals are updated every day 📈 If you encounter any problems during trading, these signals can serve as your reliable guide 🧭 Feel free to refer to them! I sincerely hope they'll be of great help to you 🌟
Technical Analysis: Technically speaking, the price of crude oil has persistently lingered below the midline of the Bollinger Bands, distinctly indicating that the bearish trend is in the ascendancy 📉. Last week, on the weekly chart, it closed with a substantial bearish candlestick, exhibiting a downward tail pattern, and in the short term, the price has been fluctuating within a trading range 📊. As for the upcoming week's trend, whether the support level established by the previous double doji bottoming formation will be broken through effectively will be the focal point of market attention 👀. Nevertheless, once the price reaches the crucial support level, there exists the potential for a technical rebound. Investors should closely monitor the variations in trading volume and the response of the moving average system 📈.
Market Situation: It is crucial to note that due to the holiday factor in the Asian market next Monday, market liquidity is anticipated to decline significantly. Under such circumstances, the oil price is likely to encounter a higher risk of more pronounced volatility, further escalating the uncertainty of the market situation ⚠️.
⚡⚡⚡ USOIL ⚡⚡⚡
🚀 Buy@56.0 - 57.0
🚀 TP 59.0 - 60.0
Accurate signals are updated every day 📈 If you encounter any problems during trading, these signals can serve as your reliable guide 🧭 Feel free to refer to them! I sincerely hope they'll be of great help to you 🌟
Trade active
Waiting for the market to open.Trade closed: target reached
It's going in the same direction as we expected
📢Weekly profit :300% - 500%
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Disclaimer
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📢Weekly profit :300% - 500%
t.me/+OjXw8IBwWg81ZDY0
📢JOIN OUR FREE TELEGRAM GROUP
t.me/+OjXw8IBwWg81ZDY0
📢Free signals are updated every day
t.me/+OjXw8IBwWg81ZDY0
t.me/+OjXw8IBwWg81ZDY0
📢JOIN OUR FREE TELEGRAM GROUP
t.me/+OjXw8IBwWg81ZDY0
📢Free signals are updated every day
t.me/+OjXw8IBwWg81ZDY0
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.