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US Oil is trading in the red at 70.85 at the time of writing. In the short term, it seems undecided, that’s why we have to wait for new opportunities. After its strong rally, a minor retreat is natural as the rate could test and retest the immediate support levels. Fundamentally, the Canadian Retail Sales and Core Retail Sales came in better than expected, so Crude Oil could try to develop a new bullish movement. Technically, the rate failed to stay below the medinan line (ml) signaling strong upside pressure. Testing and retesting this dynamic support, registering only false breakdowns may announce a new bullish momentum. Join Learn 2 Trade VIP Group now! Information on the Learn2.trade website and inside our Telegram Group is intended for educational purposes and is not to be construed as investment advice. Trading the financial markets carries a high level of risk and may not be suitable for all investors. Before trading, you should carefully consider your investment objectives, experience, and risk appetite. Only trade with money you are prepared to lose. Like any investment, there is a possibility that you could sustain losses of some or all of your investment whilst trading. You […]
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