Oil Prices Rally To Stop These Days

Discussion in 'Commodities Forum' started by World-Signals.com, May 18, 2020.

  1. World-Signals.com

    World-Signals.com Active Member

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    The economy is restarting and you can see this as check the oil prices graph. It is going up and up the last days and especially in the last two days. The WTI price climbs to $33.05 after the negative prices last month.
    The oil prices may found a good resistance at the current level of $33.05 and if move up the next resistance may stop the rising prices at $36.50. The economy could not recovery so fast also there are many big volumes stored oil. All these factors could stop the price and back to levels of $22 up to $29 in the next 2-months.
    World-Signals.com strategy is to place new orders in the coming days into short positions.
    The oil prices in the last few days follow the stock optimism and are very high value in the current situation.
     

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