Oil prices stabilized after rising on Monday

Oil at the basic level

Oil prices fell slightly during Tuesday's trading, after rising by more than 2% in the previous session, after President Trump set a new deadline for Russia to reach a ceasefire with Ukraine.

Expectations are that if an agreement is not reached, Russia may face tougher US sanctions, as well as the imposition of 100% secondary tariffs by the United States on its trading partners importing Russian oil.

Traders are also watching the second day of US-China trade talks and the Federal Reserve's two-day monetary policy meeting scheduled to start later on Tuesday for signals on the timing of an interest rate cut.

At the technical level

Crude oil broke through the levels of 66 dollars yesterday, which represents the upper limit of the upward-penetrating symmetrical triangle.

We expect that the rise will continue down to the levels of 68.00 USD and then the levels of 71.00 USD per barrel.

This scenario fails if the USD 65.00 levels are broken down.