Crude Oil Market Analysis:
Crude oil has rebounded over the past two days, with the daily chart closing in a doji pattern for two consecutive days. This rebound presents another opportunity to sell. Our outlook for crude oil remains bearish, and we continue to monitor resistance at 64.00 and 65.00. Both levels present selling opportunities, and the daily chart is unlikely to change its selling pattern in the short term.
Fundamental Analysis:
The recent positive developments in the Russia-Ukraine situation are weighing on gold. The Federal Reserve’s monetary policy, in line with market expectations, is also weighing on gold. Fundamentals suggest that neither is very bullish for gold.
Trading Recommendations:
Crude oil: Sell around 64.00, target 62.00-60.00.
