Crude Oil Prices Surge Amid Middle East Tensions and Demand Fore

4월 12일

Technical analysis suggests that crude oil prices may find support at $84.40 and face resistance at $87.30, with similar levels identified for Crude oil MCX prices. A recommended trading strategy involves selling on any uptick around $86.20, with a target price of $85 and a stop-loss order placed above $87.30. This strategy aims to capitalize on short-term price movements amidst the prevailing geopolitical uncertainties and demand outlook.

In conclusion, the current dynamics in the crude oil market reflect a delicate balance between geopolitical tensions, supply dynamics, and demand forecasts. Market participants are advised to remain vigilant and adapt their strategies accordingly in response to evolving developments.