#BRENT
Oil continues its steady growth on expectations of a reduction in supplies from the Russian Federation in September, as well as positive news from China. However, at the moment the price is starting to look a bit overheated and needs to be deflated.
Against this background, I am waiting for a suspension and correction in the coming days. Nevertheless, the uptrend is strong, so the plan is to open purchases near the levels of 87 and 86 dollars per barrel with a take profit of 88.50.
Oil continues its steady growth on expectations of a reduction in supplies from the Russian Federation in September, as well as positive news from China. However, at the moment the price is starting to look a bit overheated and needs to be deflated.
Against this background, I am waiting for a suspension and correction in the coming days. Nevertheless, the uptrend is strong, so the plan is to open purchases near the levels of 87 and 86 dollars per barrel with a take profit of 88.50.