The downtrend dominates, the focus needs attentionGeneral crude oil market and WTI crude oil technical chart TVC:USOIL Still in a downward trend.
Trump revoked Chevron's license to operate in Venezuela, which has fueled supply-side market concerns and supported a recovery in oil prices, but they are still on a downtrend and trade policy uncertainty has limited a recovery in demand expectations. The focus of the crude oil market will still need to pay attention to changes in the geopolitical situation, the US Dollar index, and the Trump administration's trade policy.
Notable technical levels are as follows.
Support: 68.52USD
Resistance: 70 - 71.43USD
