Crude Oil Price Movement For April 01, 2020


As we know, Russia and Saudi Arabia are now involved in the oil trade war. Saudi Arabia is ramping up production rates with a low cost which is not good for the oil market, although yesterday US President Donald Trump made a special call to Russia's President Putin to discuss this oil trade war. We don't now how this story will end, but from the technical view we see a small 123 Formation at #CL. It seems that crude oil has a chance to go up at least for test the Buy Side Liquidity Pool at $21.88-21.98 as long #CL does not retrace lower than the 19.27 level. So, the Buy Side Liquidity Pool at $21.88-21.98 will be reached soon with a high probability.


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