Crude Oil just printing another LOWER-LOW.
78 support line became now a resitance zone , so we can see 73-74 zone , very soon.
Also OPEC anounced that they estimate an increase in barels per day in 2024-2025 , that is a bearish info beacause they already cut the production every month and the price is still in down trend, so with an slower economy also the demand its lower for OIL...so medium term im bearish on it.
78 support line became now a resitance zone , so we can see 73-74 zone , very soon.
Also OPEC anounced that they estimate an increase in barels per day in 2024-2025 , that is a bearish info beacause they already cut the production every month and the price is still in down trend, so with an slower economy also the demand its lower for OIL...so medium term im bearish on it.