CL New York Crude Oil – Oil prices struggle, oversold pressure appears

Oil prices rose on Friday after a Ukrainian drone attack halted loading at Russia's largest port in western Russia, but gains were limited by concerning U.S. demand. of U.S. crude oil closed at $62.69, up 32 cents, or 0.51%. Markets are also watching for sanctions or tariffs from the Trump administration aimed at reducing India and China's use of Russian crude oil.

As seen on the technical charts, the RSI and Stochastics indicators have rebounded from oversold territory, suggesting a short-term slowdown in oil prices. Resistance is expected at the 25-day moving average of $63.50 and the 50-day moving average of $65.30, with further pressure at $66.40 and $68. On the other hand, a clear break below $61 could trigger another downward test, with support returning to the $60 level, followed by $58 and the May low of $57.13.

Forecast range:
Resistance: 63.50 – 65.30 – 66.40 – 68.00
Support: 61.00 – 60.00* – 58.00 – 57.13

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