On Tuesday, prices for WTI crude oil showed indecision. These dynamics indicate consolidation in the short term. However, a corrective decline should not be ruled out, as the asset is close to overbought levels. However, buyers' immediate target is the $ 82.00 mark.
On Monday, JP Morgan analysts said that the average price of Brent crude will be $ 70- $ 80 in the 4th quarter of 2021 amid the ongoing recovery in global consumption. Continued supply chain disruptions represent an upward risk factor for this projection. Nevertheless, the OPEC + alliance has sufficient capacity to increase production, and it can do so if prices continue to rise.
Oil prices are likely to remain high in the medium term.
Proposed deal for this tool:
Entry Point - 80.69
Stop Loss - 79.24
Take Profit - 82.14
Thanks for your comments and likes 👍
On Monday, JP Morgan analysts said that the average price of Brent crude will be $ 70- $ 80 in the 4th quarter of 2021 amid the ongoing recovery in global consumption. Continued supply chain disruptions represent an upward risk factor for this projection. Nevertheless, the OPEC + alliance has sufficient capacity to increase production, and it can do so if prices continue to rise.
Oil prices are likely to remain high in the medium term.
Proposed deal for this tool:
Entry Point - 80.69
Stop Loss - 79.24
Take Profit - 82.14
Thanks for your comments and likes 👍
Trade active:
🚀
Trade active:
The trade has been updated to Break-even🎯
Trade closed: target reached:
✅ CLOSED by Break-even
