Oil reaches higher levels overnight! Trading Views, 09.06.2021
Good morning 09.06.2021!
Talking about volatility… the Price of spot Oil per barrel is currently at 70.2 but I find no reason to expect a shock upwards shortly, or today, only a volatile slow move as previously if any.
Technical analysis yesterday showed signs of price reversal. The chart shows clearly that it fell below the lower barrier of the channel. The price fell to a critical low. It moved downward and stopped at the 61.8% Fibonacci retracement level. Yes, it was an opportunity to buy. An upward trend is likely to form after a dip to price 70.0 or just below that.
Talking about volatility… the Price of spot Oil per barrel is currently at 70.2 but I find no reason to expect a shock upwards shortly, or today, only a volatile slow move as previously if any.
Technical analysis yesterday showed signs of price reversal. The chart shows clearly that it fell below the lower barrier of the channel. The price fell to a critical low. It moved downward and stopped at the 61.8% Fibonacci retracement level. Yes, it was an opportunity to buy. An upward trend is likely to form after a dip to price 70.0 or just below that.
