Crude oil futures prices ended lower on Tuesday (22nd), WTI crude oil futures prices retreated after a 7% rise in the previous day, as investors were evaluating the prospect of the European Union banning the import of Russian crude oil.
Crude oil rose first and then fell on Tuesday. From the daily line, the shape is still showing an upward trend. Today, the top focus is on the breakthrough of the 113.5 line, and the break point is 115-117. From the four-hour line, the oil price failed to continue after rising yesterday. On the hourly line, the cross between MA5 and MA10 is downward. Today, 113 is not reached. The oil price will continue to fall.
Summary At present, oil prices are in a bullish trend, but there is a pullback momentum. Look at 113.5 above, 107 below, and see extension if broken.
Pay attention to the impact of evening EIA data
Crude oil rose first and then fell on Tuesday. From the daily line, the shape is still showing an upward trend. Today, the top focus is on the breakthrough of the 113.5 line, and the break point is 115-117. From the four-hour line, the oil price failed to continue after rising yesterday. On the hourly line, the cross between MA5 and MA10 is downward. Today, 113 is not reached. The oil price will continue to fall.
Summary At present, oil prices are in a bullish trend, but there is a pullback momentum. Look at 113.5 above, 107 below, and see extension if broken.
Pay attention to the impact of evening EIA data