WTI OIL (Long)

30 ביולי 2020

As global markets are gradually opening up again and price wars going on with promising figures from the Crude Oil Inventories by the US, there should be a promising show of a steady climb again in oil for the long term. Oil should be back at the 41$ mark within the middle of next week. Prices dropped due to price correction and with the competitive trading of Gold ( AUXXD) Markets should pull back as buyers are getting back into the market with the attack of the 41.00$ mark being a psychological and important resistance - which could become great support. Although COVID19 Cases and economical data dampens positive outlooks, recovery cases and the rise in demands as some countries eases up on lock-down restrictions and OPEC+ Members complying to cut-backs, this should soften the blow for oil prices and steady the demand.