WTI/USD
Oil prices lost their gains earlier this week after a new strain of Covid-19 is threatening the global demand recovery. Fears of new lockdowns around the world can have a negative impact on fossil fuels and may push the Oil price down. From a technical perspective, we can see the price breaking the previous top for a potential “stop hunt” in order to trap in some “buyers”, before starting a correction to the downside. If the price breaks the lower line of the parallel channel there would be a good chance that we will be heading into the 40$ territory.
Trade safe & a Happy New Year!
Best regards,
Financial Flagship
Disclaimer: The analysis provided is just informal and it should not be used as financial advice. Remember that you need a plan before you start trading; so take this as your guide that will ultimately help you understand the market and easily predict your next move.
Oil prices lost their gains earlier this week after a new strain of Covid-19 is threatening the global demand recovery. Fears of new lockdowns around the world can have a negative impact on fossil fuels and may push the Oil price down. From a technical perspective, we can see the price breaking the previous top for a potential “stop hunt” in order to trap in some “buyers”, before starting a correction to the downside. If the price breaks the lower line of the parallel channel there would be a good chance that we will be heading into the 40$ territory.
Trade safe & a Happy New Year!
Best regards,
Financial Flagship
Disclaimer: The analysis provided is just informal and it should not be used as financial advice. Remember that you need a plan before you start trading; so take this as your guide that will ultimately help you understand the market and easily predict your next move.
手動結束交易
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