OIL, What's next?

TVC:UKOIL   CFDs on Brent Crude Oil
As the CPI numbers and the inflation numbers starts to slow and decrease, and banks are saying that 2023 inflation will drop even more.

The oil is facing more down moves.
The Saudi Arabia, needs a $75 per barrel to cover the government budget.
but what if the decrease production to keep prices high, will be enough to cover the budget ?!

In this chart, we are seeing too possible buys, with two possible scenarios.

the first buy at $75.00 per barrel and the second one at $50.00

Always manage your risk in trading be for you enter the market.



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