The oil price is continuing its dance close to the key level of $59, while investors are waiting for new market movers. These could arrive from the Federal Reserve or news on the trade war talks.
From a technical point of view the trend remains positive, with the price capable of further acceleration if WTI can break through the resistance at $59. Following the recent OPEC+ agreement there is moderate optimism, despite fears about how well countries will adhere adherence to the deal.
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.