Crude Oil (WTI/USD) Short SetupInternational oil prices have been supported by the temporary easing of trade tensions and buying sentiment attracted by a double bottom. However, the upside for oil prices remains limited, mainly due to the impact of Trump's uncertain tariff policies on the economy and the OPEC+ strategy of maintaining production increases. In the forward view, attention should be paid to the progress of the Iran Nuclear Agreement and Russia-Ukraine negotiations. If the agreements are reached, pressure on the oil supply side will continue to increase. During the summer oil consumption peak season, the incremental oil demand in major consuming countries may be affected by factors such as the bleak prospects of economic recovery and the substitution of new energy, keeping oil prices under pressure. On the daily chart, crude oil closed with a small bullish candle, with the high price breaking above the previous high and the low price not breaking below the previous low, forming an breakout pattern. Crude oil has shown upward momentum after consecutive oscillations, and key attention should be paid to whether the resistance level at 63.6 is broken.
Trading Strategy:
sell@62.5-63.0
TP:61.0-61.5
In the market, there are no absolutes, and neither upward nor downward trends are set in stone. Therefore, the ability to judge the balance between market gains and losses is your key to success. Let money become our loyal servant.
