FX.co ★ Cookiess | CL/Crude Oil

Crude Oil M15 Chart Analysis: We are discussing the current research on the movement analysis of crude oil prices. The US has started selling oil on international markets. Rising oil prices will undoubtedly have a negative impact on China, even though global events frequently have both positive and negative effects. A major drawback for China is that rising prices make things more costly or reduce business profitability. It is feasible to transport oil to China by rail, but the infrastructure is unlikely to do so, and the problem is the oil's low carrying capacity. Transportation of coal and other commodities is also necessary, and the existing rail system requires two to four times more infrastructure to meet the demand. Its comfort zone is still below the current price level, and the monthly option expiration is also drawing near. The price abruptly reversed and started a negative trend after rising to 99.49, which put CL in the bearish Daily TF's break zone. This trend kept the Daily TF bearish. The M15 TF is still pessimistic despite reaching 93.70, from which it is trying to rise. In order for the price to increase towards the bearish H1 TF break zone (97.30-98.04) and possibly then recover into drop, it must break through 95.83. If the H1 TF is broken, the bullish H4 TF will support the price, allowing it to rise above the bearish Daily TF. However, such a move will require breaking through the 99.49 high and gaining a foothold above it. Yesterday, we had a debt level of about 95.29 at Monday's option expiration. To hit Friday's debt, a small decline is still required. The price is in a strong trading condition and may increase once again. The comfort zone for Wednesday's fresh call options is currently lower than Monday's levels, but Wednesday's option calls are still far off.