CRUDEOIL BREAKOUT ? FROM FALLING WEDGE

Crude Oil (1 Hour Timeframe)

Pattern: Falling wedge pattern, signaling a potential breakout.

Entry: Long position above 6040

Target Levels:
1st target: 6100
2nd target: 6140
3rd target: 6200
4th target: 6235

Stop-Loss (SL): yours

Risk Management: Set stop-losses appropriately to manage risk and avoid potential losses.

Fundamental Factors:

Fed Rate Cut: The Federal Reserve's decision to cut interest rates is seen as positive for oil demand, potentially boosting prices.

Geopolitical Tensions: A recent attack on Iran-backed Hezbollah raises concerns about wider conflict in the Middle East, which could disrupt oil supplies and push prices higher.

Disclaimer: This technical analysis is based on the provided data and should not be considered financial advice. Trading involves risk, and past performance is not indicative of future results.

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