The short-term outlook for oil prices is bearish, driven by high global inventory levels and lower immediate impact of tensions in the Middle East on supply channels. While markets remain wary of geopolitical escalations that could disrupt supply routes, the current supply glut is likely to depress prices. Investors should remain vigilant and pay close attention to geopolitical developments and strategic policy changes that may affect market conditions.
Today's price surge and then rapid reversal points to the presence of bears, putting further downward pressure on WTI crude oil futures. Clearly, traders are selling on the rallies and this selling is likely to continue as long as demand issues persist and there are no offsetting supply disruptions. This keeps traders’ eyes focused on the 50-day moving average at $80.10. This level affects the medium-term trend.
Comment:
active trade
Comment:
active trade
Comment:
active trade
Comment:
active trade
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