8:07 AM · 25 May 2020

Oil remains in upward trend

Friday morning brought a sudden correction to the oil markets on Hong Kong tensions but this did little to the upwards trend that remains intact. Traders can notice that both the trend line and a (50) moving average on the H4 interval keep providing support to the OIL.WTI that is nearly 100% up from the end of April lows. On the news side, traders will prioritize any signals of demand recovery now that the economies in Europe and US are opening up.

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Commodities Technical analysis

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