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Oil is about to experience an uptrend

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CFDs di Minyak Mentah WTI (TVC:USOIL)  
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TVC:USOIL   CFDs di Minyak Mentah WTI
Trend Analysis Chart Patterns Fundamental Analysis Oil oiltrading oilprice oilforecast oilshort oillong oilstocks oilusd oilcrude
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Oil experienced a sharp decline again today, and the EIA data was also unfavorable to oil. Currently, the oil price is close to the support level of 65-63. If this area is breached, the oil price will face the risk of falling to around $50.

As far as the current market situation is concerned, I think this probability is not high. Although we cannot completely rule out this risk, from a technical perspective, if the oil price continues to decline, it will become oversold, and there will be a short-term rebound demand. Therefore, in the trading process, I lean towards going long at lower levels.

If you have enough margin for oil, you can start a small long position now, and take profit at above 70 upon rebound.

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Dagangan aktif:
it's back above 70
Komen:
The goal is approaching

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