3 min readOIL (WTI/USD | BRENT):
As geopolitical tensions continue to escalate, commodities like oil have experienced short-term volatility. Currently, prices are trading below $70.00 and appear to be trending lower in the near term.
A closer look at the technicals reveals a clear rejection of the internal descending trend line, which aligns closely with the daily 50 EMA. The RSI indicator shows no signs of the price being overbought or oversold, indicating that the current price action is neutral as we continue to range within this area of interest.
Author
Risk Disclaimer Disclaimer: The information provided does not constitute, in any way, a solicitation or inducement to buy or sell any of our products.
Any material presented under this section of our website is not intended and should not be considered investment research or investment advice. Any Comments and analysis reflect the views of different external and internal analysts at any given time and are subject to change at any time. The recipient acknowledges that he/she is solely responsible for any trading decisions taken.
Risk warning: Our products are complex financial instruments which come with a high risk of losing money rapidly due to leverage. These products are not suitable for all investors. You should consider whether you understand how leveraged products work and whether you can afford to take the inherently high risk of losing your money. If you do not understand the risks involved, or if you have any questions regarding our products, you should seek independent financial and/or legal advice if necessary. Past performance of a financial product does not prejudge in any way their future performance.
