Oil prices rebound on geopolitical concerns in Eastern Europe
<Fundamental>
After a week of decline, oil prices rose sharply due to increased geopolitical risks in Eastern Europe, including the possibility of long-range missile attacks. Meanwhile, the IEA has noted a decline in global oil demand due to China's slowing economic growth. They added that this trend may result in an oversupply of 1 million barrels per day in the global crude oil market next year.
<Technical>
After testing a trend line, USOIL advanced to 69.00. However, the price remains below both EMAs and still maintains bearish momentum. If USOIL breaks below the trend line again, the price could fall further to the support at 64.80. Conversely, if USOIL breaches above EMA21 and the 70.00 threshold, the price could gain upward momentum toward the resistance at 73.30.
After a week of decline, oil prices rose sharply due to increased geopolitical risks in Eastern Europe, including the possibility of long-range missile attacks. Meanwhile, the IEA has noted a decline in global oil demand due to China's slowing economic growth. They added that this trend may result in an oversupply of 1 million barrels per day in the global crude oil market next year.
<Technical>
After testing a trend line, USOIL advanced to 69.00. However, the price remains below both EMAs and still maintains bearish momentum. If USOIL breaks below the trend line again, the price could fall further to the support at 64.80. Conversely, if USOIL breaches above EMA21 and the 70.00 threshold, the price could gain upward momentum toward the resistance at 73.30.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。