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[Bitop Review] Trump called for lower interest rates and oil prices fell. Today's crude oil market analysis!

2025年01月24日发布

On Friday (January 24), US crude oil continued to fall in the Asian session, trading around $74.27 per barrel. After US President Trump called for lower interest rates, the US dollar weakened and US crude oil fell slightly. Earlier, US President Trump spoke at the World Economic Forum and urged Saudi Arabia and OPEC to reduce oil costs. Uncertainty about how Trump's proposed tariffs and energy policies will affect global economic growth and energy demand also dragged down oil prices.

 

The U.S. Energy Information Administration (EIA) said on Thursday that even with the slowdown in refining activities, U.S. crude oil inventories fell to the lowest level since March 2022 last week. But the decline was smaller than expected. This put pressure on oil prices to fall, and supply-side pressure and uncertainty in global economic growth led to a continuous decline in oil prices.

 

From the daily level, crude oil is about to test the upper edge of the range at 78.80 in the medium term. The moving average system is arranged in a bullish pattern, and the medium-term objective trend direction is upward within the range. The K-line continues to pull up large real positive lines, and the bullish momentum is full. Pay attention to the resistance effect of the upper edge of the wide range on oil prices. If it breaks through, it will further open up the room for crude oil to rise, and the medium-term will officially enter the rhythm of rising.

 

The short-term trend of crude oil (1H) continues to run in the downward channel, and the upper edge of the channel plays an effective resistance role on oil prices. In the morning, the oil price touched the lower edge of the channel, and the moving average system continued to diverge downward. The short-term objective trend direction is still downward. The strength of the crude oil rebound is weak, and it is expected that crude oil will remain weak and downward in the channel during the day. Today: 76.15 short, stop loss: 77.00, target 75.00.

 

Disclaimer: The article is contributed by the market analyst from Bitop market observation team. The content is solely for personal opinions and sharing. The analysis is time-sensitive and provided for reference and discussion only. It does not constitute any investment advice. The market is risky, so investing should be done cautiously.