The oil market is currently undergoing interesting changes due to the fluctuating American Dollar, which affects its value. After a recent decline, we are now very close to a major sell signal. Apart from the USD, global demand and actions from OPEC+ countries also affect the oil market. Two weeks ago, oil saw a huge bullish gap after an output cut, but then the volatility subsided, and prices moved sideways. Last week, we saw an upswing and a breakout of the horizontal resistance at 87 USD/bbl (orange), which seemed promising for a new uptrend. However, buyers failed to hold the price above the support, leading to a ... (full story)