WTI REMAINS IN RANGE
Crude oil prices consolidate around 68 and 77 dollars per barrel, remaining below the heights of March and April. The risk of downside movement is fueled by the slow recovery of China and their slow demand increase, higher interest rates on demand and uncertainty around US economy.
On the other hand, if the prices dip too low, the countries of OPEC+ will be fast to decrease the supply in order to mitigate further down movement.
The price will most likely keep ranging between 68 and 77 dollars, but if it breaks the support, it might fall to 64, while if the resistance gets broken, the price might target levels of 83.50.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses
On the other hand, if the prices dip too low, the countries of OPEC+ will be fast to decrease the supply in order to mitigate further down movement.
The price will most likely keep ranging between 68 and 77 dollars, but if it breaks the support, it might fall to 64, while if the resistance gets broken, the price might target levels of 83.50.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses
Aviso legal
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