The oil chart indicates that prices are likely to see lower numbers. The United States may intend to take a series of actions to keep oil prices down in order to alleviate some inflationary pressure, which could stem from the trade war and also from military conflicts involving the U.S.
From the chart, it can be inferred that in the medium term, prices might fluctuate between $55 and $69, but there is also the possibility of a correction down to around $43. This would benefit industrialized countries that consume oil, helping their economies become somewhat more resilient to the impending stagflationary shock worldwide.
From the chart, it can be inferred that in the medium term, prices might fluctuate between $55 and $69, but there is also the possibility of a correction down to around $43. This would benefit industrialized countries that consume oil, helping their economies become somewhat more resilient to the impending stagflationary shock worldwide.
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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.