WTI Crude Oil Technical Analysis
Crude oil maintains its bearish trend after weaker US data beat. what next
Crude oil continues to decline for now amid weaker US data and a break above the $80 level.
On the supply side, nothing has changed as tensions in the Red Sea remain and OPEC+'s extension of voluntary production cuts into the second quarter did not boost prices.
On the demand side, recent economic data has consistently missed forecasts, leading to weaker expectations for the market.
As long as the current trend remains intact, we can expect a lower price and a bigger correction to the downside.
Stay with us for the rest of the video
Crude oil maintains its bearish trend after weaker US data beat. what next
Crude oil continues to decline for now amid weaker US data and a break above the $80 level.
On the supply side, nothing has changed as tensions in the Red Sea remain and OPEC+'s extension of voluntary production cuts into the second quarter did not boost prices.
On the demand side, recent economic data has consistently missed forecasts, leading to weaker expectations for the market.
As long as the current trend remains intact, we can expect a lower price and a bigger correction to the downside.
Stay with us for the rest of the video