The Trust Layer for Market Analysts

The analysis examines the US Crude oil market using a monthly timeframe. It notes a bearish candle after three green candles and highlights a support zone at 64. It discusses the possibility of a double bottom around 55. Key resistance levels are identified at 64.5, 65.8, and 66. Above these, the analysis suggests a potential move towards 70, which could signal a trend reversal. A bearish channel is drawn, illustrating a long-term downtrend since a peak of 90-95. The analysis uses 50 period moving averages and stochastic indicators, while highlighting a moving average crossover, which signals additional bearishness. The analyst shares trading recommendations and advice for upcoming week suggesting that trade short below 61.5 targeting 60-57.8 and beyond