US oil looks north
Crude oil might rebound after yesterday's weak CPI print.
What happened?
The growth of the US inflation was weaker than before, that's why Gold, Crude oil and Bitcoin were pushed down yesterday.
Prices for energy commodities inside of the CPI index had stopped falling, and the overall CPI was not negative.
So, it's possible to see the recovery for energy assets in the near future.
USOIL (Crude oil) is positioning close to the support area of 20-day moving average and may rebound back to $80 as shown at the chart.
What happened?
The growth of the US inflation was weaker than before, that's why Gold, Crude oil and Bitcoin were pushed down yesterday.
Prices for energy commodities inside of the CPI index had stopped falling, and the overall CPI was not negative.
So, it's possible to see the recovery for energy assets in the near future.
USOIL (Crude oil) is positioning close to the support area of 20-day moving average and may rebound back to $80 as shown at the chart.
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