Crude oil target 90

Oct 18, 2023

Market analysis
In the last post, we talked about the US crude oil market maintaining the price of crude oil to a certain extent, but the impact of the conflict in Pakistan on the crude oil market completely covers other market conflicts, and crude oil is bound to rise.

Technical analysis
After crude oil rose to 88.3, the short side gradually took over the main direction. From a larger level, it can be observed that the oil price just encountered resistance at the upper edge of the flag relay and fell back.

Crude oil is bullish given the ongoing conflict.

Oct 18, 2023

Trade active

Oct 19, 2023

Trade active

Oct 19, 2023

Note

Iran announced oil embargo

Oct 19, 2023

Trade active