3 min readOIL (WTI/USD | BRENT):
Amid the rising tensions in the Middle East, oil, a commodity closely tied to such events, experienced a price surge. The price action climbed as high as $79.00 before hitting internal resistance, leading to a rejection and a subsequent drop.
A closer look at the technicals reveals two key external trend lines that align with the resistance and support areas we are analysing. I’ll be keeping a close eye on the internal ascending trend line to see how the price reacts as it approaches these critical zones. At the moment, the RSI indicator shows no signs of the price being overbought or oversold.
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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.
