International oil prices rebounded slightly during the Asian trading session on Monday (October 13th), with US crude oil stabilizing around $60. This followed US President Trump's announcement last Friday of 100% tariffs and export restrictions on Asian countries, escalating trade tensions and sending US crude oil prices plummeting, its largest single-day drop since August, to below $60.

In addition, Asian countries announced port surcharges on all US-owned vessels arriving at their ports, effective October 14th, forcing the cancellation of some crude oil shipments. This measure, seen as a reciprocal response to US logistics restrictions, also caused a short-term spike in global shipping rates. This change has increased uncertainty in the energy market, particularly with its potential impact on spot crude oil flows.

On a daily basis, crude oil prices have fallen below the lower limit of their range, indicating a downward medium-term trend. This sharp drop in oil prices continues to indicate a downward trend, both objectively and subjectively. The MACD indicator's fast and slow lines are pointing downward below the zero axis, indicating a dominant bearish trend. Crude oil is expected to fluctuate downward in the medium term.

Crude oil has experienced a sharp decline in the short term (1H), breaking below the 60 mark to reach a new low of 57.8. The moving averages are in a bearish pattern, indicating a downward trend in the short term. The MACD indicator closed below the zero axis, but bearish momentum remains strong. Oil prices rebounded weakly in the morning session. Keep an eye on the 55-day moving average, which is suppressing prices. Crude oil is expected to continue its downward trend today. Today: Short at 59.90, stop loss at 61.00, target at 57.00.

Disclaimer: The article is contributed by the market analyst from Bitop market observation team. The content is solely for personal opinions and sharing. The analysis is time-sensitive and provided for reference and discussion only. It does not constitute any investment advice. The market is risky, so investing should be done cautiously.