Crude Oil Technical Analysis – The top of the range is in sight ...Middle East

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Crude Oil Technical Analysis – The top of the range is in sight
Fundamental OverviewThe fundamentals in the crude oil market haven’t changed much in the past month. In fact, crude oil remains confined in a range between the 72.00 resistance and the 67.00 support as the market continues to weigh the future scenarios. On one hand, we have the Trump’s victory which might be seen as bearish for fear of the tariffs and a slowdown in global growth as other countries could retaliate. You can throw there also a potential increase in supply and the geopolitical risk premium easing with the Trump’s administration. On the other hand, we might have an increase in global growth expectations due to the global central bank easing and the Trump’s pro-growth policies. W

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