In today’s session, we’re watching USOIL for a potential short setup around the 64.10 zone. Price action remains in a broader downtrend, with the current move looking like a corrective retracement into a key support turned resistance area.
From a fundamental perspective, all eyes are on the scheduled August 15 meeting between Donald Trump and Vladimir Putin. A ceasefire agreement could fuel bearish momentum, potentially accelerating the sell-off. On the other hand, if talks collapse, renewed geopolitical tension could keep oil prices bid in the short term.
Technically, 64.10 is the battleground a decisive rejection here could offer an attractive risk reward for sellers aligned with the dominant trend.
From a fundamental perspective, all eyes are on the scheduled August 15 meeting between Donald Trump and Vladimir Putin. A ceasefire agreement could fuel bearish momentum, potentially accelerating the sell-off. On the other hand, if talks collapse, renewed geopolitical tension could keep oil prices bid in the short term.
Technically, 64.10 is the battleground a decisive rejection here could offer an attractive risk reward for sellers aligned with the dominant trend.
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The 1% Traders Club:
t.me/+C08gijSq2PMyZTVk
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.