On Tuesday, the correlation between WTI futures and the US dollar index has significantly increased in recent months, and crude oil has quietly become the main driver of US dollar sentiment again. With oil prices plummeting and Fed officials hinting at a possible rate cut in July, the US dollar may have the conditions to weaken further. As the US dollar index encounters resistance at key technical levels and momentum turns bearish, traders should pay attention to the energy market on the one hand and personal consumption expenditure (PCE) data and Fed comments this week on the other hand for trading guidance. Crude oil remains in a low range today. Combined with the daily level of the big negative line, oil prices are still in a bearish trend. Today's focus is on whether oil prices can continue to break new lows. Overall, Charlie believes that crude oil is in a bearish trend channel. Today's operation considers rebound shorting as a supplement, low long as a supplement, pay attention to the resistance of $66.9-67.9 on the top, and pay attention to the support of $64.2-63.2 on the bottom.
Crude oil plan: crude oil rebounds to 66.9-67.5, short, target 64.0-63.0, protect 68.0
If the oil price breaks above 68.8 USD/barrel, it will stop the expected bearish 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 63.0 USD/barrel and the resistance level of 67.0 USD/barrel.
USOIL USOIL USOIL USOIL
Crude oil plan: crude oil rebounds to 66.9-67.5, short, target 64.0-63.0, protect 68.0
If the oil price breaks above 68.8 USD/barrel, it will stop the expected bearish 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 63.0 USD/barrel and the resistance level of 67.0 USD/barrel.
USOIL USOIL USOIL USOIL Note
USOIL hits TP again. Charlie team is always glad that they can stick to their original intention. I will treat every friend who proposes cooperation wholeheartedly, and use my professional strength to help you make profits, recover your investment, and increase your value. My reputation depends entirely on the publicity of customers, and my strength is honed in long-term actual combat. Even if the road ahead is bumpy, as long as you trust us, we will do our best to guide you, make the most effective use of your funds, and let you experience the feeling of profit in the ups and downs of the market! If your trading is not going well, or your investment funds are often shrinking, then you can pay attention to Charlie team.Trade active
USOIL hits TP again. Charlie team is always glad that they can stick to their original intention. I will treat every friend who proposes cooperation wholeheartedly, and use my professional strength to help you make profits, recover your investment, and increase your value. My reputation depends entirely on the publicity of customers, and my strength is honed in long-term actual combat. Even if the road ahead is bumpy, as long as you trust us, we will do our best to guide you, make the most effective use of your funds, and let you experience the feeling of profit in the ups and downs of the market! If your trading is not going well, or your investment funds are often shrinking, then you can pay attention to Charlie team.
Senior Market Strategy Analyst | CFA® Charterholder | Builder of a Million Member Profit System. To join, please click 👉🚀🚀t.me/EagleEyePrecisionAnalysis
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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.
Senior Market Strategy Analyst | CFA® Charterholder | Builder of a Million Member Profit System. To join, please click 👉🚀🚀t.me/EagleEyePrecisionAnalysis
👉：t.me/Eagle_PreciseAnalysis
👉：t.me/Eagle_PreciseAnalysis
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.