OIL: Very bearish Monthly close
OIL ST/MT Outlook: Sell
From FA perspective, Oil is in downtrend:
1- Worldwide recession is/will create a lower demand for oil.
2- Risk: Agreements between Iran-USA and Ukraine-Russia will fade out any risk related.
From TA perspective:
1- Monthly close is a strong bearish. A continuation down is expected.
2- Next major stop is around $40.
From FA perspective, Oil is in downtrend:
1- Worldwide recession is/will create a lower demand for oil.
2- Risk: Agreements between Iran-USA and Ukraine-Russia will fade out any risk related.
From TA perspective:
1- Monthly close is a strong bearish. A continuation down is expected.
2- Next major stop is around $40.
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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.