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.

BREAKING: Massive increase in US oil reserves!
Market wrap: Oil gains amid US - Iran tensions 📈 European indices muted before US NFP report
📈 Gold jumps 1.5% ahead of NFP, hitting its highest level since Jan. 30
Silver rallies 3% 📈 A return of bullish momentum in precious metals?