Crudeoil | MCX | 22 Feb update

MCX:CRUDEOIL1!   Crude Oil Futures
🔹Timeframe: 1 hour

🔹Bull above 6500
🔹CrudeOil may test resistance at 6568 per barrel, a break above could lead to a gain into 6500 range.

  • US refineries resuming operations after outages, boosting demand.
  • Weaker dollar makes oil cheaper for buyers, increasing demand.
  • Geopolitical tensions add support to prices.
  • But, US crude inventory build raises concerns, limiting price gains.
  • Official inventory data expected tomorrow may impact pricing further.


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