CX - Crude Oil - Intraday Setup

Technical Analysis: Crude Oil (1-Hour Timeframe)

Short-Term Outlook: Bearish

Trade Setup:
Target: 6240
Invalidation Level: Above 6311

Rationale:
Oil prices are currently volatile due to escalating Middle East tensions and ongoing supply disruptions. Despite a sharp decline in US inventories, economic concerns and profit-taking are putting downward pressure on prices. The setup remains bearish with a target at 6240. A move above 6311 would invalidate this setup.

Risk Management:
Monitor price action closely and adjust positions if the price moves above 6311.

Disclaimer: This is a technical analysis based on current data and should not be considered financial advice. Trading involves risk, and past performance is not indicative of future results.

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