The oil price is continuing its slow dance around the key threshold of $50, with WTI unable to build any solid positive momentum. The spread of the coronavirus is leaving open many questions about the real impact of this epidemic sickness on the economy over the next few months. Investors are extremely cautious before taking any long position on the barrel, as it could be one of the worst affected assets if the virus spreads further. Oil’s weakness was confirmed last week with the price unable to rebound despite the return of a risk on attitude.
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.