- Key Insights: Crude oil is displaying a bullish signal after prior declines,
with increasing volatility suggesting watchfulness for investors. The key
resistance level at $73.79 needs to be breached for a sustained upward
trend, while the support at $71.51 provides critical downside protection.
- Price Targets:
Next week targets:
T1: $75.50
T2: $78.00
Stop levels:
S1: $72.00
S2: $70.00
- Recent Performance: Crude oil has shown resilience, overcoming previous
downturns and demonstrating late bullish activity. The market reacted
sharply to news, swinging prices upwards over 3%, confirming sensitivity to
external factors.
- Expert Analysis: Experts expect crude oil prices to respond positively to
geopolitical events, especially with tariffs that could limit supply to the
U.S. Traders should be mindful of correlated movements in broader commodity
markets, suggesting a favorable environment for oil if it remains above key
technical levels.
- News Impact: The market faces significant challenges due to a recently imposed
25% tariff on oil imports from Canada and Mexico, expected to constrain
supply availability in the U.S. This situation heightens the potential for
price increases amid ongoing geopolitical uncertainty, making it imperative
for investors to adapt strategies accordingly.
with increasing volatility suggesting watchfulness for investors. The key
resistance level at $73.79 needs to be breached for a sustained upward
trend, while the support at $71.51 provides critical downside protection.
- Price Targets:
Next week targets:
T1: $75.50
T2: $78.00
Stop levels:
S1: $72.00
S2: $70.00
- Recent Performance: Crude oil has shown resilience, overcoming previous
downturns and demonstrating late bullish activity. The market reacted
sharply to news, swinging prices upwards over 3%, confirming sensitivity to
external factors.
- Expert Analysis: Experts expect crude oil prices to respond positively to
geopolitical events, especially with tariffs that could limit supply to the
U.S. Traders should be mindful of correlated movements in broader commodity
markets, suggesting a favorable environment for oil if it remains above key
technical levels.
- News Impact: The market faces significant challenges due to a recently imposed
25% tariff on oil imports from Canada and Mexico, expected to constrain
supply availability in the U.S. This situation heightens the potential for
price increases amid ongoing geopolitical uncertainty, making it imperative
for investors to adapt strategies accordingly.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.