Oil Pauses at Resistance as Mixed Outlook Weigh on Sentiment
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  • Market Insights  >  Trade Of The Day

15 April 2025,02:05

Trade Of The Day

Oil Pauses at Resistance as Mixed Outlook Weighs on Sentiment

15 April 2025, 02:05

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Fundamental Analysis:

Oil prices were little changed, reflecting mixed market sentiment. On the bullish side, China’s crude imports in March rebounded by nearly 5% year-on-year, driven by increased flows from Iran and Russia. However, the upside was limited by deteriorating global demand forecasts. Goldman Sachs now expects Q4 2025 demand growth to rise by just 300,000 barrels per day. Meanwhile, UBS slashed its Brent forecast by $12 to $68 and WTI to $64. JPMorgan also revised down its oil projections for 2025, citing rising OPEC+ output and weaker demand from the petrochemical sector.

Technical Breakout:  

Technically, crude oil is trading flat near its resistance level. MACD offers no strong directional signals, while RSI stands at 53, hovering near the neutral midline. This suggests the commodity may continue consolidating between resistance at 62.75 and support at 59.15. A breakout from this range will likely determine the next major price movement.

Potential Risks: Ongoing U.S.-China trade tensions could increase volatility in crude oil markets.

Monitoring: Stay updated on potential trade tensions between US and world to gauge the likelihood movement for several asset classes.

Resistance levels: 3280.00, 3365.00

Support levels: 3210.00, 3160.00

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  • Market Insights  >  Trade Of The Day

15 April 2025,02:05

Trade Of The Day

Oil Pauses at Resistance as Mixed Outlook Weighs on Sentiment

15 April 2025, 02:05

Share on:
FacebookLinkedInTwitterShare

Fundamental Analysis:

Oil prices were little changed, reflecting mixed market sentiment. On the bullish side, China’s crude imports in March rebounded by nearly 5% year-on-year, driven by increased flows from Iran and Russia. However, the upside was limited by deteriorating global demand forecasts. Goldman Sachs now expects Q4 2025 demand growth to rise by just 300,000 barrels per day. Meanwhile, UBS slashed its Brent forecast by $12 to $68 and WTI to $64. JPMorgan also revised down its oil projections for 2025, citing rising OPEC+ output and weaker demand from the petrochemical sector.

Technical Breakout:  

Technically, crude oil is trading flat near its resistance level. MACD offers no strong directional signals, while RSI stands at 53, hovering near the neutral midline. This suggests the commodity may continue consolidating between resistance at 62.75 and support at 59.15. A breakout from this range will likely determine the next major price movement.

Potential Risks: Ongoing U.S.-China trade tensions could increase volatility in crude oil markets.

Monitoring: Stay updated on potential trade tensions between US and world to gauge the likelihood movement for several asset classes.

Resistance levels: 3280.00, 3365.00

Support levels: 3210.00, 3160.00

Open Your Free Demo Account And Start Trading Risk-Free

Join Now

Start trading with an edge today

Trade forex, indices, metal, and more at industry-low spreads and lightning-fast execution.

  • Start trading with deposits as low as $50 on our standard accounts.
  • Get access to 24/7 support.
  • Access hundreds of instruments, free educational tools, and some of the best promotions around.
Join Now

Latest Posts

Fast And Easy Account Opening

Create account
  • 1

    Register

    Sign up for a PU Prime Live Account with our hassle-free process.

  • 2

    Fund

    Effortlessly fund your account with a wide range of channels and accepted currencies.

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Oil Pauses at Resistance as Mixed Outlook Weighs on Sentiment

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