Oil now

Oil quotes resumed its decline after restrained attempts to grow at the start of the day. The reason for the sale of oil was the weakening of optimism in the stock markets and the oil sellers’ return to the market, who took a break for correction and optimistic expectations about the possibility of reducing oil production in OPEC.

Technically, oil remains in the oversold zone, accelerating general downtrend. But it is also worth noting that the main oil brands are limited to general oversold and form a kind of slowdown of the decline. To confirm the slowdown in decline, buyers should keep the lows of last week, which would indicate the formation of a flat and the possibility of correction.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at around $ 66.00, a decline of -1.10% in price.

WTI crude oil trades at $ 55.90, a decline of about -1.10% in price.

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Dani Leviant

Earn with the help of the trade service on the news Erste News!

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