Oil now

The major oil brands are trading lower in optimism due to the uncertainty because of the US-China trade talks And as a result, we observe a decrease in general optimism in the market, which has reduced the demand for risky assets. It is also worth noting the high level of oil production in the United States and the preservation of an aggressive policy of oil production, which is the main factor in maintaining the downward trend in oil.

Technically, the main oil brands are trading near monthly highs, forming a slight correction, which is more like a flat, limited to the trading range of Wednesday, which can serve as an area of ​​uncertainty in the future movement.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at $ 61.00, a decrease of about -0.70% in price.

WTI oil trades at $ 52.00, a decrease of about -0.80% in price.

Read also: “The Canadian dollar (CAD) – a feature of trading on cross-rates”

Dani Leviant

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