Crude Oil Technical Analysis – We are at a key resistance ...Middle East

Fundamental OverviewCrude oil has been falling steadily since topping around the $87.50 level following the mutual retaliations between Iran and Israel. The drop has been kind of a head-scratcher though as there are global growth expectations amid China and other major central banks policy easing, improving PMIs and OPEC+ extending the voluntary production cuts until the end of the year. The death of Iranian President Raisi doesn’t change anything for the market as quoting the Supreme Leader Ayatollah Ali Khamenei “there won’t be any disruption to the country’s affairs”. In the big picture, crude oil is still trading in a 70-90 range, so there’s nothing exciting going on, but in the short-te

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