Daily oil analysis on 17-12-2019

Daily oil analysis

The rise of oil was expected as we explained on 12-12-2019, but will the rise continue, may continue a little before confirming the decline

The oil rose upside sideways inside an ascending channel and we expect that the rise is nearing completion and since the prices are below the 63.50 level the oil becomes closer to sell and the prices of 59.60 to 60.57 prices may be the points of reflection on the oil so we monitor prices well in the area specified on the chart. Stay tuned daily for daily oil analysis on our website.

It is possible that the upside move continues slightly before landing again, so it is best to wait for confirmation

In the following diagram we show the expected movement on oil

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Marowa Al Tujjar
Marowa Al Tujjar
مديرة القسم الصحفي - كاتبة و محررة إقتصادية متخصصة بالعملات الرقمية

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