13/02/2025
Trump's Return and Oil Price Trends: Technical Analysis and Future Outlook📊
Trump returned to the White House and quickly took action to fulfill campaign promises, including allowing drilling on federal lands and urging OPEC to lower oil prices📉. These moves caused oil prices to fall from last week's high of $80.77 per barrel to $74.01 per barrel, eventually stabilizing at $74.60 per barrel over the weekend. However, technical analysis shows that oil prices may be forming a rounding bottom pattern and the long-term bullish trend remains strong📈.
In this video, we will take a deep look at the price action of Brent Crude Oil and West Texas Intermediate (WTI). Using continuous crude oil futures charts from ICE and NYMEX, we will explore the short-term pullback in oil prices, the medium-term upside potential, and the long-term bullish trend. In addition, we will discuss the potential impact of geopolitical factors such as the Russia-Ukraine war on oil prices.
❤Speaker: Daniel Ang (Sophisticated Trader with 30 yrs exp)
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1. The information is meant purely for informational purposes and should not be relied upon as financial advice.
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Trump's Return and Oil Price Trends