Pure Fuel and Oil Forecast: Market Eyes OPEC+ Discord and U.S.–China Commerce Shifts…
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Crude oil costs are hovering round $62.24, caught in a tug-of-war between technical assist and sliding momentum. After breaking under the $62.50 pivot, WTI is testing the trendline from early April—a stage bulls have protected earlier than.
Resistance looms at $62.78 (50 EMA), whereas the 200 EMA at $63.44 provides stress overhead. If oil can reclaim $62.78, it could retest $63.44, however sellers are prone to defend that zone aggressively. On the draw back, $61.49 is vital—dropping it might expose $59.87.
With worth compressing simply above trendline assist, this vary is establishing for a decisive transfer. Momentum is fading, however the broader development isn’t damaged—but. Control quantity and the way worth behaves at $61.49.
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