Crude Market Stalls as Prices Struggle

[johnblockbuster]

Crude Market Stalls as Prices Struggle

Fundamental Analysis

1. USOIL remains under pressure on persistent oversupply concerns, with weak economic activity weighing on demand.

2. This is further compounded by a stronger U.S. dollar, which continues to pressure oil prices.

Technical Analysis
3. Technically, USOIL is trading within a descending channel, making lower swings while a bearish EMA stack confirms the prevailing downtrend.

4. The recent rebound lacked momentum and quickly slipped back below the EMA stack, suggesting it was only a short-term rally within a broader bearish trend, with no signs of a bullish reversal so far. Any rebound would be an opportunity to make a lower high.

5. The rejection of resistance around 61.50 signals renewed downside risk, opening the way for a potential move back toward the previous low near 55.00.