Crude oil is currently trading near the resistance zone which has kept a lid on crude oil prices since early March; RSI is also flat suggesting weakening of the recent uptrend. Crude could form a near term top around current levels from where a decline could be witnessed. It would be prudent to say that Crude oil could decline towards 65.50 and 64.50 while it sustains below 67.40.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.