OIL PRICE BULLISH RALLY MUCH EXPECTED TARGET NEAR $40
Technically
- The price has retested the channel support which implies that there is a possibility for pull back.
- Also the momentum is still strong as can be noticed from MACD 4C
- The 30 period MA is sloping upward
Fundamentally
- The economies are opening up from Covid19 pandemic which will likely boost demand and Oil price
- On the supply side, the crude inventories are also declining on weekly basis which is also good for oil price.
I have initiated a long position at current price with first target around $39.50
- The price has retested the channel support which implies that there is a possibility for pull back.
- Also the momentum is still strong as can be noticed from MACD 4C
- The 30 period MA is sloping upward
Fundamentally
- The economies are opening up from Covid19 pandemic which will likely boost demand and Oil price
- On the supply side, the crude inventories are also declining on weekly basis which is also good for oil price.
I have initiated a long position at current price with first target around $39.50
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.