Crude oil has corrected in the near term on 18th and 19th of February, this is likely to be a short term correction within the long term uptrend before buying kicks in. Positive slope of the 20-day SMA along with Crude oil trading above the 20-day SMA supports the above observation. It would be prudent to say that WTI Crude oil could rise towards 60.50 and 61.25 while it sustains above 58.30.
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.
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.