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Updated View On WTI Oil (1 APRIL 2020)
The volatility of Oil has gonna down recently and it is priming for the next move.
It is not "exactly" in the bull phase just yet.
So, if you want to go long, you should've waited for more bullish signs first.
DYODD, all the best and read the disclaimer too.
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Commodities have had a heck of a bear market.
The low cost of oil and natural gas is due to abundant shale gas and shale oil supply making the US an exporter for the first time since the seventies.
This in turn caused energy dependent industries like mining and agriculture to be more cost efficient, creating higher output in the mines and on the fields and pushing...
In the H4 Chart, Crude Oil has Broken and stable above short term descending channel. That may lead to a resistance zone of 25.00 USD/Barrel.
Crude Oil Buy @ 21.20
Signal Source: Investor Tipster
Oil price is stuck in tight range, anticipating results of OPEC meetings.
According to technical analyses my bias is bullish as long as 25$ holds.
In case of bearish break yearly lows could be tested.
So far we are in a 4H uptrend and 1H tight range with lower highs and higher lows.
Watching carefully for break and momentum.
Play safe and don't predict, react!