Oil now
The oil market found support after updating the monthly low. So, the main oil brands moved to the upward trend after the decline, having formed support near the August lows. It is too early to talk about the full-scale growth of the oil market. As major brands of oil are below recent significant highs, a maximum of August 2.
So far, the oil market enjoys a general growth of optimism associated with the trade war and the American dollar’s return to growth. In the context of further strengthening the American dollar and attempts to stabilize the stock markets, the oil market will also receive support, but will continue to be limited by existing risks.
Look Technical Analysis.
Brent crude oil is trading around $ 60.10, an increase of about + 0.40% in price.
WTI crude oil is trading around $ 55.00, an increase of about + 0.70% in price.
Read also: “Features of trading wthin a week”
Dani Leviant
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