CL New York crude oil futures – Oil prices hover low, weighed down by tariff concerns and supply and demand expectations

As can be seen from the technical chart, the RSI and stochastic index are rising, and oil prices have initially bottomed out around $65 this month, indicating that oil prices will tend to rebound in the short term. The current resistance level is $68 and the 25-day moving average of $69.10. The next level points to the $70 and even $72.80. The supporting level is estimated at $66 and $65, and the largest support is expected to extend to $63.60 and $62.40, with the key level pointing directly to the $60.

Forecasted range:
Resistance 68.00 – 69.10 – 70.00 - 72.80
Support 66.00 - 65.00 – 63.60 – 62.40

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