The crude oil
OIL_CRUDE
market recently underwent a correction, with prices dropping from $67.50 to $71.50 last week. Currently, it is approaching the resistance level at $71.58. A breakout above this resistance could potentially push the price up to $75 before resuming its downward trajectory towards $64. The overall trend remains bearish, so caution is advised. A trend reversal would only occur if the price surpasses $78. It is crucial to closely monitor price movements in the coming days. #OilMarket #MarketAnalysis
OIL_CRUDE
market recently underwent a correction, with prices dropping from $67.50 to $71.50 last week. Currently, it is approaching the resistance level at $71.58. A breakout above this resistance could potentially push the price up to $75 before resuming its downward trajectory towards $64. The overall trend remains bearish, so caution is advised. A trend reversal would only occur if the price surpasses $78. It is crucial to closely monitor price movements in the coming days. #OilMarket #MarketAnalysis