Oil now

The main oil brands are traded at the opening of the day level on Tuesday, actually maintaining restraint after yesterday’s decline. Previously, the pressure on oil prices owas exerted by data on a slowdown in China’s economy. This has actually exacerbated market fears about the prospects for a slowdown in the global economy, despite the weakening of the US – China trade confrontation.

Technically, oil maintains a sideways trend of the past week, additionally demonstrating a decrease in volatility in the market, which is associated with the tensions between the US and OPEC and the expectation of data on the US oil inventories.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at around $ 65.50, a decrease of about -0.20% in price.

WTI crude oil trades at $ 56.60, an increase of about + 0.00% in price.

Read also: “Cycles Theory in the FOREX market. Briefly about everything “

Dani Leviant

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