Both WTI and BRENT Crude Oil benchmarks rose in price on Tuesday (26th of April) after China announced that it will support its economy in case of a lockdown and the fears of diminishing demand have been eased.
If the rally continues it will most likely test its previous high at 109.5, in the opposite scenario, the price might test its support at 99.3
MACD and RSI are showing a slow down of the bullish trend from the last few hours, but with eased lack of demand fears the price might return its momentum.
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If the rally continues it will most likely test its previous high at 109.5, in the opposite scenario, the price might test its support at 99.3
MACD and RSI are showing a slow down of the bullish trend from the last few hours, but with eased lack of demand fears the price might return its momentum.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.