3 min readOIL (WTI/USD | BRENT):
Oil has been another intriguing asset, exhibiting range-bound price action over the past few weeks and months. Currently trading at just over $70.00, I will be watching for clear shifts in momentum to assess the next potential direction of its price movement.
Examining the technicals more closely, it is evident that price action is contained within a bearish channel. I am particularly interested in whether the price will move higher to test the internal descending trend line or continue downward to retest the lower descending trend line, which aligns with support levels around $67.00. Meanwhile, the RSI indicator shows no clear signs of the price being overbought or oversold at the moment.
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The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.
