World crude oil prices tended to be bearish, continuing the correction a week earlier, amid the aggressive United States central bank in raising its benchmark interest rate.
Oil prices have been rising since last year and hit a record high this year on March 8, 2022 when Russia invaded Ukraine.
The weakening of oil prices is the uncertain demand prospect from China. Although the spike in Covid-19 cases has been contained, it is still unclear how quickly Chinese businesses will be able to recover.
USOIL H1
USOIL D1 - JUNE
Oil prices have been rising since last year and hit a record high this year on March 8, 2022 when Russia invaded Ukraine.
The weakening of oil prices is the uncertain demand prospect from China. Although the spike in Covid-19 cases has been contained, it is still unclear how quickly Chinese businesses will be able to recover.
USOIL H1
USOIL D1 - JUNE
Order cancelled
D1 Fail Retest, H1 Resistance Breakout.
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Related publications
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.