Fears of another lockdown can have a negative impact on fossil fuels and may push the Oil price down. From a technical perspective, we are expecting a deeper pullback for the Oil price. We are now in the middle of a parallel uptrend channel and we expect a breach of the price to the downside at any time, to test the 45$ area, with a possibility for the barrel rate to hit the low 40s area.
Trade with care!
Financial Flagship
Disclaimer: The analysis provided is just informal and it should not be used as financial advice. You need a plan before you trade, but we assume this can help you have a better idea to where the market is heading next.
Trade with care!
Financial Flagship
Disclaimer: The analysis provided is just informal and it should not be used as financial advice. You need a plan before you trade, but we assume this can help you have a better idea to where the market is heading next.
Trade closed manually
We are making a bigger consolidation pattern for the up move.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.