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November 8, 2023: Crude oil continues to decline. The economies of oil-producing countries are heavily dependent on revenue from oil exports, so a significant drop in international oil prices can impact these economies. These nations may face challenges such as reduced fiscal revenue, currency depreciation, and inflation.
On the other hand, economies of oil-consuming countries benefit from low oil prices, as it lowers costs for businesses and individuals, promoting consumption and investment. These countries may experience benefits such as alleviated inflationary pressures and accelerated economic growth.
A sharp decline in international oil prices could lead to volatility in stock markets and currency markets. The decrease in the stock prices of energy companies may affect the entire stock market, and low oil prices could lead to currency devaluation, affecting international trade and investment.
Technical Analysis:
Daily Chart: This movement is heading towards a consolidation around 37,000 before continuing to rise.
Four-Hour Chart: This movement seems to have emerged, heading towards 37,000.
15-Minute Chart: 35,300-36,000-34,800-37,000.
Operational Plan: Enter a long position at the current price, add positions on pullbacks, and control the liquidation price for long positions above 25,500. Adopt a watchful stance. |
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Post time 13-11-2023 07:17:22
