Prices of oil have a direct impact on the inflation. The higher oil prices have started impacting the consumers across the globe.
We have used Aspen Trading Support & Resistance Levels to analyse the oil prices trend. It has clearly broken down the short-term support levels at 77.75 and most probably could lead to further down side.
As the the oil production ramps up, the oil prices could stabilise at the pre-covid levels in the range of 60s.
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Disclaimer: This analysis is for information purpose only and does not constitute any investment advice.
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The idea has played out very well so far and shows the value in using the Aspen Trading Support & Resistance Levels.