Important Note!
We use cookies to ensure you get the best experience on our website.
By clicking ‘Agree,’ you accept our use of cookies as outlined in our cookies policy
This week, high-impact economic events to influence market sentiment, including US Unemployment Claims, Crude Oil Inventories, and the ISM Manufacturing PMI.
Crude oil prices have shown resilience by rebounding from a recent low of $66.73 per barrel and advancing to $70.24, hovering above the 20-period EMA.
The oil market is navigating mixed signals as OPEC+ decisions, geopolitical developments, and technical trends shape the landscape.
Crude oil has been on a downward trend since early July, which is marked by technical bearish signals.