- Crude oil is losing momentum in the 1 hour chart due to persistently high interest rates.
- Waiting for momentum to return near 6 p.m. today.
- The chart shows possible targets for crude oil in the near future.
Analysis
The 1 hour chart of crude oil shows that the commodity has been losing momentum in recent hours. This is likely due to a number of factors, including persistently high-interest rates. High-interest rates make borrowing money more expensive, which can lead to a decrease in demand for crude oil.
- Waiting for momentum to return near 6 p.m. today.
- The chart shows possible targets for crude oil in the near future.
Analysis
The 1 hour chart of crude oil shows that the commodity has been losing momentum in recent hours. This is likely due to a number of factors, including persistently high-interest rates. High-interest rates make borrowing money more expensive, which can lead to a decrease in demand for crude oil.