Expected to rise

International oil prices rose more than 2% on Monday amid widespread expectations that OPEC+ will announce further production cuts after a meeting of member states early next week. Traders are eyeing potential speculative buying in crude oil trading as global risk sentiment appears to be strengthening and optimism returns among financial institutions.

Crude oil continued its rebound trend and reached the pressure level, but was blocked and fell back. It is still falling back and adjusting. Since the bulls' main bottom-buying signals appeared continuously below, it has rebounded relatively slightly. At present, it should continue to fluctuate and adjust.

Crude oil will currently fluctuate in the range of 78.8-75.5.

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77.8

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Trade active

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go long

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73.79-75.8 Profit 20 pip

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