Crude oil futures showed volatility during the day on Monday. Prices rose sharply in early European trading, breaking through the 70.00 integer mark and then falling back, but still fluctuating at a relatively high level. Oil prices rose slightly after countries importing Russian oil imposed tariffs of 25% to 50%. Brent crude oil futures climbed and WTI also rose. However, gains were limited as traders questioned the seriousness of the proposal. ING Group pointed out that the market was "fatigued" by Washington's tariff rhetoric, indicating that the crude oil market was unlikely to react strongly without concrete actions.
Crude oil plan: Crude oil is recommended to retreat to 70.0-69.5, with a target of 71.0-72.0 and a stop loss of 0.5 US dollars.
If oil prices break below $69.0/barrel, this will stop the expected bullish trend and push oil prices to regain the main trend of volatility.
It is expected that today's oil prices will trade between the support level of $69.0/barrel and the resistance level of $72.0/barrel.
Crude oil plan: Crude oil is recommended to retreat to 70.0-69.5, with a target of 71.0-72.0 and a stop loss of 0.5 US dollars.
If oil prices break below $69.0/barrel, this will stop the expected bullish trend and push oil prices to regain the main trend of volatility.
It is expected that today's oil prices will trade between the support level of $69.0/barrel and the resistance level of $72.0/barrel.
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.