Crude Oil Technical Analysis – Renewed tensions in the Middle East ...Middle East

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Crude Oil Technical Analysis – Renewed tensions in the Middle East
Fundamental OverviewCrude oil has been under sustained pressure since the beginning of July. Analysts have been pointing to potential demand weakness under the surface and economic slack in China. The increase in Trump’s winning odds after the failed assassination attempt might have also contributed to some weakness as he’s a great supporter of the “drill, baby, drill” slogan and he will likely put an end to the war in Ukraine if he gets elected.Yesterday, prices bounced on renewed tensions in the Middle East. In fact, Israel struck Beirut (Lebanon) targeting the Hezbollah commander that launched a recent missile attack against Israel killing 12 children. Just some hours later, Israel manage

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