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Oil: You Can’t Fall Down!


Good day!

Oil is testing the resistance of 71.30, while the question remains – will we break through the horizontal or fly down? Now it will be interesting to observe the price behavior near the level and look at the formation of candles, which may indicate a further variant of price movement. In principle, while below the level, we tend to the level of the “black gold” bounce down:

According to the S & P500 index, the price continues to “walk” along the level of 4200.00, so the base scenario remains the same – a decline in quotations downward. But for now, as a correction:

Oil: You Can't Fall Down!

As for the Australian currency, the price has entered a wedge, so for now the scenario is as follows – a rebound from the upper (lower) border into the wedge. Upon breaking through, another, rather interesting, scenario is activated:

Oil: You Can't Fall Down!

Oleg Svirgun,
analyst at Tickmill brokerage company
06/03/2021

Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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