Stocks are plummeting as risk off continues to dominate. The combination of coronavirus and an oil war is weighing heavily on oil prices, with investors not betting on a quick resolution of the dispute between Russia and Saudi Arabia.
In this hugely volatile scenario, it is difficult to find technical price levels for WTI. That said, in the last few hours the barrel is trying to build a support at $30.90, while the next key level would be the psychological threshold of $30.
Chief analyst at ActivTrades and technical analyst for Italian newspaper 'La Stampa'. Carlo Alberto provides regular commentary for UK outlets including the BBC, Telegraph, the Independent Bloomberg & Reuters. He is also a weekly commentator for CNBC Italy and a columnist for La Stampa. He worked for Bloomberg as their Equity Research Fundamental Analyst before joining brokerage ActivTrades in 2011 to specialize in currency markets and commodities. In 2014 he published a 250-pages book on gold and the gold market, followed in 2018 by a new updated edition.
© 2019 High Leverage FX - All Rights Reserved.
© 2019 High Leverage FX - All Rights Reserved.