WTI Crude oil has been trading in a higher top higher bottom formation suggesting the trend to be positive in the near term, momentum indicators are also in buy mode corroborating the above observation. Oil is also trading above the 20-day moving average supporting the bullish view and indicating further upside potential. It would be prudent to say that crude can rise further towards 46.50 and 47.00 while it sustains above 45.00.
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.