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
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.