3 min readOIL (WTI/USD | BRENT):
Oil has been a fascinating asset to track over the past few weeks, particularly amid the buzz surrounding the executive orders signed by Trump.
A closer look at the technicals clearly shows that we have rejected this descending trend line, which also coincides with the key psychological level of $78.00. In my previous analysis of oil, I highlighted this as a crucial area to watch, noting the importance of breaking above and holding it as support. Now, I’ll be closely monitoring price action in the coming weeks to see whether we move lower and retest previous support levels.
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The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.
