Crudeoil | MCX | 22 Feb update
🔹Timeframe: 1 hour
🔹Bull above 6500
🔹CrudeOil may test resistance at 6568 per barrel, a break above could lead to a gain into 6500 range.
🔹Bull above 6500
🔹CrudeOil may test resistance at 6568 per barrel, a break above could lead to a gain into 6500 range.
- US refineries resuming operations after outages, boosting demand.
- Weaker dollar makes oil cheaper for buyers, increasing demand.
- Geopolitical tensions add support to prices.
- But, US crude inventory build raises concerns, limiting price gains.
- Official inventory data expected tomorrow may impact pricing further.
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