Oil now

The oil market is resuming the growth after a modest opening of trading on Tuesday. The reason for the increase in oil was optimism associated with trade negotiations, and technical correction after yesterday’s decline, despite the mixed sentiment on the stock exchanges, which causes mixed movements of the market. The oil market has returned to a restrained upward trend. At the same time, the formation of the Monday low can serve as significant support and a signal for the resumption of the upward movement.

The main oil brands are traded in a restrained upward trend despite the limited flatness. In the future, this may give rise to an upward reversal against the September decline. But while the growth of the oil market is limited by the highs of October 18 and 11.

Look Technical Analysis.

Brent crude oil is trading around $ 59.50, an increase of about + 0.90% in price.

WTI crude oil is trading around $ 54.00, an increase of about + 1.10% in price.

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Hanzenko Anton

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