We have reached our near term target level 53.20.
Lack of Global Oil demand
Slowing down global economies
And now China's Plan to tax US Oil starting September 1.
As I mentioned in my previous Oil report, China- Iran Oil Trade Plan could be validated soon.
After the false breakout of the triangle, we see WTI retesting the triangle. WTI needs to make Daily Closing below 53.13 to continue its bearish move.
Under the current fundamental conditions, I expect the decline in oil prices to continue. As shown in the chart, Daily Closing below $ 50 will accelerate the downward trend in prices. Below 50$, Oil Prices may find medium-term support at 46.80.
Lack of Global Oil demand
Slowing down global economies
And now China's Plan to tax US Oil starting September 1.
As I mentioned in my previous Oil report, China- Iran Oil Trade Plan could be validated soon.
After the false breakout of the triangle, we see WTI retesting the triangle. WTI needs to make Daily Closing below 53.13 to continue its bearish move.
Under the current fundamental conditions, I expect the decline in oil prices to continue. As shown in the chart, Daily Closing below $ 50 will accelerate the downward trend in prices. Below 50$, Oil Prices may find medium-term support at 46.80.
Anmerkung
tradingview.com/chart/0dVi3hOZ/Anmerkung
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🎯 Cycle Sniper and other MT4 Indicator: mql5.com/en/users/elmirair/seller
📊 Join Traders Times on YouTube for Daily Market Prep & Setups (Macro + Technical + Algo):youtube.com/@traderstimestv
PM for Live Alerts
📊 Join Traders Times on YouTube for Daily Market Prep & Setups (Macro + Technical + Algo):youtube.com/@traderstimestv
PM for Live Alerts
Verbundene Veröffentlichungen
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.