WTI OIL - END OF CORRECTION ?
Fundamental / Psychological Analyse
Traders explained the losses in the oil market, especially with the generally bad mood in the financial markets. More risky asset classes such as commodities suffered from this development. The price losses on the stock exchange are also justified with worse prospects for the global economy. This could indicate a weaker demand for oil.
Technische Analyse
The Oil Price has arrived at the first good support, if we do not see a rebounce from here I expect another correction to about $ 60. If the daily candle closes over $ 63 a long entry can be made.
Traders explained the losses in the oil market, especially with the generally bad mood in the financial markets. More risky asset classes such as commodities suffered from this development. The price losses on the stock exchange are also justified with worse prospects for the global economy. This could indicate a weaker demand for oil.
Technische Analyse
The Oil Price has arrived at the first good support, if we do not see a rebounce from here I expect another correction to about $ 60. If the daily candle closes over $ 63 a long entry can be made.
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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