Oil is continuing its recovery, with WTI getting closer to $53. The modest decline seen in early trading yesterday was just a temporary break and the barrel remains in a supportive scenario. Investors are betting on the continued recovery of global demand over the next few months after a difficult 2020. The cuts announced last week by Saudi Arabia are basically a victory of Russia but in some way are also showing that OPEC+ can still play its role in the current markets. The price is therefore consolidating and remains in a positive environment.
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.
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© 2019 High Leverage FX - All Rights Reserved.