During the Asian trading session on Monday, Brent crude fell slightly by $0.05 to $65.15 per barrel; WTI crude was quoted at $61.76, while the more actively traded July contract dropped $0.04 to $61.93. Both benchmark oil prices recorded weekly gains of over 1% last week, mainly boosted by the easing of global trade sentiment. The market will closely monitor data to be released soon by a major Asian economy, including April industrial added value, fixed asset investment, and retail sales. ANZ Bank noted in a report that weak data from the major Asian economy could undermine the optimism brought by the tariff suspension, thereby pressing down oil prices.👉👉👉
The K-line closed as a yang line with a long lower shadow, indicating strong bullish momentum from buyers. The moving average system is gradually arranging in a bullish formation, relying on the oil price, and the short-term objective trend direction has turned upward. It is expected that the intraday crude oil trend will continue to rise, reaching near 63. Overall, in terms of crude oil trading strategies, it is recommended to focus on buying low on pullbacks and supplement with selling high on rebounds. In the short term, pay attention to the resistance at the 63.0-63.5 level above, and the support at the 61.0-60.5 level below.
Oil trading strategy：
buy @ 61.00-61.50
sl 60.00
tp 62.30-62.80
If you think the analysis helpful, you can give a thumbs-up to show your support. If you have different opinions, you can leave your thoughts in the comments. Thank you for reading!👉👉👉
The K-line closed as a yang line with a long lower shadow, indicating strong bullish momentum from buyers. The moving average system is gradually arranging in a bullish formation, relying on the oil price, and the short-term objective trend direction has turned upward. It is expected that the intraday crude oil trend will continue to rise, reaching near 63. Overall, in terms of crude oil trading strategies, it is recommended to focus on buying low on pullbacks and supplement with selling high on rebounds. In the short term, pay attention to the resistance at the 63.0-63.5 level above, and the support at the 61.0-60.5 level below.
Oil trading strategy：
buy @ 61.00-61.50
sl 60.00
tp 62.30-62.80
If you think the analysis helpful, you can give a thumbs-up to show your support. If you have different opinions, you can leave your thoughts in the comments. Thank you for reading!👉👉👉
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Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.