Why brothers? If you put an oil chart on the S&P500 chart, you will find out that these assets have a strong correlation…
OIL: downswing imminent
2020-06-25 • Dikemaskini
Fundamentally, we have the following layout. In the oil market, there is relative silence and neutral mood. Globally, investors are cautious about the second-wave virus hit. Together, these factors make the oil price hang in the channel between $35 and 40$ like in limbo. Therefore, it is unlikely that it moves far beyond that channel until the global mood fundamentally improves.
In the short-term, if the price insists on testing the resistance of $40, we will have a high likelihood of a further drop closer to the middle of the channel at $37.5 as per the technical chart formation. Previous candles dropping sharply to the lower side of the channel confirm that this is indeed a possibility.
Therefore, watch how WTI price behaves the following hours – it may well drop to previous support levels within the current channel.
Serupa
Saham apakah yang akan paling awal sekali menerbitkan laporan suku tahunannya? Jom kita tinjau dan bersiap sedia untuk saksikan gerakan di pasaran saham!
Baru-baru ini, emas telah mendaki melepasi paras harga $1750 menghampiri aras rintangan bulan Mei, di $1764.
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