Crudeoil | MCX | 22 Feb update

22 thg 2, 2024

🔹Timeframe: 1 hour

🔹Bull above 6500
🔹CrudeOil may test resistance at 6568 per barrel, a break above could lead to a gain into 6500 range.

• US refineries resuming operations after outages, boosting demand.
  
• Weaker dollar makes oil cheaper for buyers, increasing demand.
  
• Geopolitical tensions add support to prices.
  
• But, US crude inventory build raises concerns, limiting price gains.
  
• Official inventory data expected tomorrow may impact pricing further.