Crude oil's sharp rebound from the $55 support—aligned with the 0.618 Fibonacci retracement of the 2020–2022 uptrend—faced immediate resistance at the long-standing support-turned-resistance zone around $63.80, established in 2021.
A decisive move above $63.80 may clear the way for further gains toward $66, $68, $69.60, and ultimately $73. On the downside, a drop below $58 would bring $55 back into focus.
A clean break below that level could trigger further downside toward $49 per barrel, which aligns with the lower boundary of crude oil's long-term uptrend.
With global powers competing for oil, key events this week include:
🔹 OPEC report amid tariffs and efforts to regain market share
🔹 US–China trade talks
🔹 Chinese GDP, IP, Retail Sales (Wed)
Written by Razan Hilal, CMT
A decisive move above $63.80 may clear the way for further gains toward $66, $68, $69.60, and ultimately $73. On the downside, a drop below $58 would bring $55 back into focus.
A clean break below that level could trigger further downside toward $49 per barrel, which aligns with the lower boundary of crude oil's long-term uptrend.
With global powers competing for oil, key events this week include:
🔹 OPEC report amid tariffs and efforts to regain market share
🔹 US–China trade talks
🔹 Chinese GDP, IP, Retail Sales (Wed)
Written by Razan Hilal, CMT
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.