Last week we saw brent oil break the 50% retracement level from the free fall in price from over supply and lack of demand from the corona virus at the start of the year.
This week we have seen a pullback edging to this retracement level, will the bulls continue to prop the market up or has momentum finally ran out? With fundamental data showing a gloomy economic forecast and coronavirus cases starting to rise is this the moment we see large selling within the market?
This week we have seen a pullback edging to this retracement level, will the bulls continue to prop the market up or has momentum finally ran out? With fundamental data showing a gloomy economic forecast and coronavirus cases starting to rise is this the moment we see large selling within the market?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.