Crude has been in a strong uptrend since the past couple of months, momentum indicators in buy mode support the above observation. The current correction experienced by crude looks to be an organic correction which is likely to find buyers near current levels. It would be prudent to say that crude could rise towards 52.80 and 53.45 if it sustains above 51.00.
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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.
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.