Crude oil prices fell on Wednesday, with WTI and Brent both closing below $100 a barrel, as U.S. crude supplies rose for the first time in three weeks, as official U.S. data showed and traders worried that high fuel prices would lead to demand decline.
Traders also continued to monitor developments in the Russian-Ukrainian war and gauge Beijing’s commitment to support the Chinese economy.
The bottom line focuses on the 90 line, the four-hour line, the Bollinger gap is short, and the oil price is between the middle and lower tracks. The top focuses on 99 and 100, and the hourly line and the Bollinger track are parallel and oscillating. Below, you can first look at the breakthrough of 94, and see the extension of the broken position. The operation idea is mainly to rebound empty.
