WTI OIL (Long)
As global markets are gradually opening up again and price wars going on with promising figures from the Crude Oil Inventories by the US, there should be a promising show of a steady climb again in oil for the long term. Oil should be back at the 41$ mark within the middle of next week. Prices dropped due to price correction and with the competitive trading of Gold ( AUXXD) Markets should pull back as buyers are getting back into the market with the attack of the 41.00$ mark being a psychological and important resistance - which could become great support. Although COVID19 Cases and economical data dampens positive outlooks, recovery cases and the rise in demands as some countries eases up on lock-down restrictions and OPEC+ Members complying to cut-backs, this should soften the blow for oil prices and steady the demand.
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