Crude oil declined sharply on Monday and experienced follow-up selling on Tuesday, albeit the trend for crude is bullish and this short term correction is likely to find buyers. Further the low on Monday coincided with the 20-day SMA & upward sloping trend line, supporting the above observation. Crude oil could advance towards 47.60 and 48.00 while it sustains below 46.00.
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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.