Fundamental View: Oil prices fell almost 7% on Thursday, the most this year, as President Donald Trump’s threat to put additional 10% tariff on China hammered a market already tanking on disappointment over an inadequate U.S. interest rate cut. The fragile economy and looming oil supply surplus will almost certainly be exacerbated by the escalation of the trade war. As a result, the pitfalls for oil are growing.
Technical View: Since the end of June, oil has been on a bearish trend while trying by two attempts to drive prices higher. The 8 consecutive days of consolidation built-up enough volume to create a false upside breakout and dip the energy commodity more than 8%. It is now a selling spike phase eager to settle the security around the demand level .
Target: Stay bearish and sell any high point while we don't break upside 56.000 and aim a take profit around @52.000.
Technical View: Since the end of June, oil has been on a bearish trend while trying by two attempts to drive prices higher. The 8 consecutive days of consolidation built-up enough volume to create a false upside breakout and dip the energy commodity more than 8%. It is now a selling spike phase eager to settle the security around the demand level .
Target: Stay bearish and sell any high point while we don't break upside 56.000 and aim a take profit around @52.000.
Nota
According to the Volume profile, 59.000 was a huge key point and 51/52.000 a strong magnet.
Dagangan ditutup: sasaran tercapai
Target was reached and prices settled around the demand level or magnet.
Penerbitan berkaitan
Penafian
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.