USOIL:Weakness Persists, Rebound Lacks Momentum

Wait 5 sec.

USOIL:Weakness Persists, Rebound Lacks MomentumWTI CRUDE OILTVC:USOILFrey_JamesRecently, USOIL has continued its downward trend, with weak rebounds and no positive news to support prices. Fundamentals, policies, and technicals all point to a weak market outlook. Fundamental Pressure: OPEC+ plans to increase production in October, while U.S. crude output remains at a high level, fueling expectations of oversupply. Global crude demand growth is slowing, and weak demand in the U.S. cannot be offset by import growth in a single region. Trend: In the short term, prices are likely to fluctuate between $57-$60, with limited rebound potential. A break below $57.5 may push prices further down to $56.5. Trading Strategy SELL@58.5-59.5 TP:57.5-57