Fundamental analysis of WTI

he current situation on the WTI oil market is characterized by a dynamic interaction of various factors. WTI oil prices have fallen sharply due to concerns about increased supply from the US and weak demand from China. 
US crude oil production is at record highs, but economic problems in China will lead to lower oil production. US crude oil inventories have risen more than expected, which has put pressure on oil prices. The situation is further complicated by the fact that the future futures exchange price is higher than its current price, reflecting investors' expectations of future price increases. 
Compared with the supply situation in America, the demand situation in China is less clear. Although the International Energy Agency and the Organization of Petroleum Exporting Countries forecast high demand growth in Asia, led by China, oil imports will decline compared to these positive forecasts. These discrepancies call into question the accuracy of growth estimates. China and India have increased crude oil imports, but other Asian countries have reacted differently with lower-than-expected import prices. Demand in Europe will decline, while demand in North America and Africa will increase. Demand in the Middle East is likely to increase, but its impact on world oil prices remains uncertain. 
The main question in world oil markets is what has a greater impact on oil prices - forecast demand or actual imports. Bullish sentiment is likely in the near term due to the gap between demand forecasts and actual imports, as well as weak technical indicators. Lower risk premiums associated with the conflict between Israel and Hamas and uncertainty surrounding the Fed's interest rate decision also impacted the market. These factors, along with the U.S. decision to impose oil sanctions on Iran and limit Iranian oil exports, will undermine the strength of the oil market. Despite the fall in oil prices, the imposition of sanctions is expected to reduce Iranian oil exports by more than one million barrels per day.
Technical Analysis and Scenarios:

Watch for price movement near the Bollinger Bands and key levels. A break above the middle Bollinger Band (around 77.70) could signal a bullish bias.
Main scenario (BUY)
Recommended entry level: 77.35.
Take Profit: 78.50.
Stop Loss: 77.00.
Alternative scenario (SELL)
Recommended entry level: 75.00
Take Profit: 74.00.
Stop loss: 75.50.