cautious_trader888

Oil now sitting at support, targeting $45 soon?

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TVC:USOIL   CFDs em Petróleo Bruto WTI
The recent dumped in oil was due to less demand because of global pandemic covid, most countries imposed lock down to slow the spread of the virus.
But I think this will be temporary and we will be back to normal soon.

Oil is also now sitting at support level and slowly recovering.
Resistance 1 is seen at $45, if it breaks that level, back to around $65.

Worse case, support is seen at around $8.

This is my personal opinion only and should not be taken as trading & investing advice. Trade at your own risk.

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