Price just can’t catch a break.
We’ve got a broken uptrend, a clear inverse cup and handle, and price trading below both the 20MA and 200MA – the classic “sell the rallies” setup.
As long as we stay under that red downtrend line, the bias is simple: down.
Target sits around $54.68, with momentum showing weakness across the board.
And yeah… we’ll still pay high fuel prices 😒
💸 Fundamental Reasons for Downside
🪓 Demand Destruction:
Global growth is slowing — less demand for oil from major economies. Probably due to an increase in demand for EV or other alternative energy vehicles in the making?
🇨🇳 China Concerns:
China’s recovery keeps disappointing, cutting one of oil’s biggest demand sources.
🪙 Strong USD:
A stronger dollar makes oil more expensive globally, reducing demand.
🛢️ OPEC Uncertainty:
Mixed signals and production inconsistencies are shaking investor confidence.
🏦 Interest Rates Bite:
High rates are squeezing industrial output and travel – both oil consumers.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
We’ve got a broken uptrend, a clear inverse cup and handle, and price trading below both the 20MA and 200MA – the classic “sell the rallies” setup.
As long as we stay under that red downtrend line, the bias is simple: down.
Target sits around $54.68, with momentum showing weakness across the board.
And yeah… we’ll still pay high fuel prices 😒
💸 Fundamental Reasons for Downside
🪓 Demand Destruction:
Global growth is slowing — less demand for oil from major economies. Probably due to an increase in demand for EV or other alternative energy vehicles in the making?
🇨🇳 China Concerns:
China’s recovery keeps disappointing, cutting one of oil’s biggest demand sources.
🪙 Strong USD:
A stronger dollar makes oil more expensive globally, reducing demand.
🛢️ OPEC Uncertainty:
Mixed signals and production inconsistencies are shaking investor confidence.
🏦 Interest Rates Bite:
High rates are squeezing industrial output and travel – both oil consumers.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
🌐NEW Website 2025:
mati-trader.lovable.app/
✅ Facebook:
facebook.com/groups/matitrader
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
mati-trader.lovable.app/
✅ Facebook:
facebook.com/groups/matitrader
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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.
🌐NEW Website 2025:
mati-trader.lovable.app/
✅ Facebook:
facebook.com/groups/matitrader
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
mati-trader.lovable.app/
✅ Facebook:
facebook.com/groups/matitrader
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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.