Tag Archive Support

US Crude Oil Markets Long off Support





Oil markets have risen sharply in recent weeks in the anticipation, the current US and China trade dispute will be resolved without too much damage to the global economy as a whole.

We’ve seen some large movements within a support and resistances level, price was having trouble trying to take momentum to break through resistance, it needed one last push at the support line to find more buyers coming into the market, final broke resistance and found a new support level, we decided to go in for a quick trade once this new support level had been found and tested.

Crude Oil managed an increase to 68.66 from previous trading session.

Oil Markets

(Our trading and image was done using an account with UK based broker IG)

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