➡️ For oil, further downward movement is expected as part of the correction, for now. Meanwhile, OPEC lowered its forecast for global oil demand in 2021 to 5.65million barrels per day. She named the slowdown in demand growth in China and India as the reasons. Although it should be noted that oil did not react much at the time of these events.
Technically, the price continues to decline within the downtrend channel. At the moment, the resistance level of 83.10$ has a SELL-potential, with the potential to fall just below 80$ (Target № 2 on the chart). Trade parameters are presented below.
🔔Proposed deal for this tool🔔:
🔴Entry Point - 83.04
⛔️Stop Loss - 84.87
✅Take Profit - 80.53
Thanks for your comments and likes 👍
👇🔥LINKS TO PREVIOUS IDEAS AND FORECASTS🔥👇
Technically, the price continues to decline within the downtrend channel. At the moment, the resistance level of 83.10$ has a SELL-potential, with the potential to fall just below 80$ (Target № 2 on the chart). Trade parameters are presented below.
🔔Proposed deal for this tool🔔:
🔴Entry Point - 83.04
⛔️Stop Loss - 84.87
✅Take Profit - 80.53
Thanks for your comments and likes 👍
👇🔥LINKS TO PREVIOUS IDEAS AND FORECASTS🔥👇
