Crude Oil Bullish
Crude prices rose as a weaker dollar and optimism that major oil producers could extend ongoing production cuts at an OPEC+ meeting later this week boosted sentiment.
Although the market is still paying close attention to the production of non-OPEC countries, various positive factors have provided positive external support for oil prices. Investors' expectations for the OPEC+ meeting have kept the market cautiously optimistic about future oil prices. Secondly, the combination of a weaker dollar, expectations of production cuts, and supply concerns have driven up oil prices.
Judging from the current trend of crude oil, as long as it does not fall below 74.4, oil prices will give priority to rising to test the 79.3-80 area.
We also need to pay attention to the key position 75.8.
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