Oil prices fell and then rose on Monday after Israel reduced its military presence in southern Gaza and began a new round of ceasefire talks with Hamas. The largest intraday drop was more than 2%. However, losses in European and U.S. stock markets narrowed sharply after the close as ceasefire negotiations reached an impasse. , concerns about tight supply still linger. The overall trend of crude oil is still bullish, and the callback will be mainly bullish at low levels.
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Strategy suggestion: buy crude oil price around 85.4-86, SL around 84.8, and TP around 88-90.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.