USOIL WTI CFD Weekly - 5 - 9 Oct 2020

The US dollar is facing selling pressure. West Texas Intermediate (WTI), the North American oil benchmark, is flashing green in response to President Trump's doctors' comments that he could be discharged from coronavirus hospital as soon as Monday.

Technically, price is heading towards inside pitchfork channel and trend still look likely a sideways but this week targeting a recovery in oil prices moving back towards $40 per barrel