Oil prices fell by 1% caused by the tension between US and China, it's devastating to see a commodity this important to decline but we cannot control these
kinda things, so what we do as traders we react to what's moving the market. Without a doubt the trade war tension of the US and China are driving the Oil price at a disadvantage that is why we see a increase of Petrol and Diesel etc... within our countries.
If we take a glance on the chart analysis, it might be telling us that we might actually have that last push to the 5th wave and on our "C" on the Harmonic pattern which is equal to the previous support level that might potentially result a drive up in price. When Crude Oil hits 57 Per Barrel that is going to be our opportunity to actually go long and probably going long as far as 79 Per Barrel.
kinda things, so what we do as traders we react to what's moving the market. Without a doubt the trade war tension of the US and China are driving the Oil price at a disadvantage that is why we see a increase of Petrol and Diesel etc... within our countries.
If we take a glance on the chart analysis, it might be telling us that we might actually have that last push to the 5th wave and on our "C" on the Harmonic pattern which is equal to the previous support level that might potentially result a drive up in price. When Crude Oil hits 57 Per Barrel that is going to be our opportunity to actually go long and probably going long as far as 79 Per Barrel.