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15 April 2025,02:08
Trade Of The Day
15 April 2025, 02:08
*Crude oil prices traded sideways, reflecting a tug-of-war between positive and negative market drivers. On the supportive side, China’s crude imports rose nearly 5% year-on-year in March, buoyed by inflows from Iran and Russia. However, optimism was capped by a deteriorating global demand outlook. Goldman Sachs revised its Q4 2025 demand growth projection to just 300,000 barrels per day. UBS also downgraded its Brent target by $12 to $68, with WTI revised to $64. Meanwhile, JPMorgan lowered its projections, citing higher OPEC+ output and weaker demand from the petrochemical sector.
* WTI is currently hovering near its resistance zone, showing signs of consolidation. The MACD indicator lacks strong directional bias, while the RSI stands at 53, reflecting neutral sentiment. The price is likely to continue ranging between 62.75 resistance and 59.15 support until a breakout confirms the next directional move.
Heightened U.S.-China trade tensions could introduce further volatility in the crude oil market, potentially accelerating price swings.
Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.
Keep an eye on potential trade war for further market direction by following PU Xtrader’s financial news page.
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16 April 2025, 03:09 Gold Hits Record High amid Trade Tensions Fuels Safe-Haven Demand
15 April 2025, 02:08 Oil Stuck in Range as Mixed Signals Weigh on Outlook
14 April 2025, 02:52 Gold Rallies on Trade Tensions
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