Oil prices popped through trend line resistance on China news

Long

CFDs sur Pétrole brut (WTI) (FX:USOIL)

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FX:USOIL CFDs sur Pétrole brut (WTI)

fundamental trendline oil crudeoil tradewar

Aside from US farmers and retailers, energy companies are poised to be the primary beneficiaries of today's trade deal, because tariff reductions will reportedly affect energy products. Oil prices have popped through trend line resistance on the news and may continue to move higher early next week.

Commentaire:

Look for a close above the trend line today to confirm the breakout

Commentaire:

It appears that oil did NOT close above the trend line today, so this move may not get a continuation next week.

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