Technical Analysis: Crude Oil
Timeframe: 1 hour
Current Situation: Oil prices have increased due to lower US inventories and ongoing tensions in the Middle East. However, concerns about weak Chinese demand and potential US interest rate hikes are keeping the market cautious.
Price Action: Crude oil remains range-bound, moving within a rising wedge pattern on the 1-hour timeframe.
Key Levels:
Strong Support: 6,640
Resistance/Target: Expecting a 100-point move, targeting yesterday’s high.
Invalidation Level: Bullish outlook invalidated below 6,610.
Outlook: Watch for a break above 6,640 to confirm bullish momentum and achieve the expected target.
Timeframe: 1 hour
Current Situation: Oil prices have increased due to lower US inventories and ongoing tensions in the Middle East. However, concerns about weak Chinese demand and potential US interest rate hikes are keeping the market cautious.
Price Action: Crude oil remains range-bound, moving within a rising wedge pattern on the 1-hour timeframe.
Key Levels:
Strong Support: 6,640
Resistance/Target: Expecting a 100-point move, targeting yesterday’s high.
Invalidation Level: Bullish outlook invalidated below 6,610.
Outlook: Watch for a break above 6,640 to confirm bullish momentum and achieve the expected target.
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.