Oil now
Oil quotes with the opening of a new trading week are traded under pressure of correction against Friday’s rise. The main moods in the oil market indicate the continuing upward dynamics, which is confirmed by the data on the decrease in drilling activity and oil inventories in the US. Also, do not forget about the US sanctions against Iran, which are the main key factor in reducing the assumption in the world oil market.
As a result, the oil market traces an uptrend, which is limited to overbought. A decrease in the cost of oil at the beginning of the day will relieve this overbought.
Look Technical Analysis of Oil.
At the moment, Brent crude oil is trading around $ 75.80, a decline of about -0.40% in price.
WTI oil is trading at $ 68.40, a decline of about -0.40% in price.
Read also: “In Focus: Analysis of transactions for a EUR/USD pair during a week”
Dani Levitan
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Trade balance influence on the country’s economy
- Stock indices : Asia-Pacific region
- Collapse of the Turkish lira. A threat to the market!
Current Investment ideas: