Assalam o Alaikum fellows. According to the fundamental analysis The coronavirus is doing the rounds again at the start of this week as the number of cases world-wide, as well as deaths, are increasing. We have seen an increase for mainland China since the 17th Jan move from 41 cases to Feb 1st 14,380 and a death toll of 304, while the latest numbers shown for 21st Feb, 76,288 and 2,345 deaths. However, there are now cases in various countries and the world. So ir will continue its uncertainties.
If we see technically, The price of oil has been dominated by the risk-off themes circulation global financial and commodity markets while the US dollar has been on the rampage for the bet part of this year so far. At the time of writing, West Texas Intermediate crude is trading at $52.09 having fallen from a high of $52.59 to a session low in a bearish gap of $51.70.
The coronavirus is doing the rounds again at the start of this week as the number of cases world-wide, as well as deaths, are increasing. We have seen an increase for mainland China since the 17th Jan move from 41 cases to Feb 14,380 and a death toll of 304, while the latest numbers shown Feb, 76,288 and 2,345 deaths. However, there are now cases in various countries and the world. So crude oil continue its uncertainties.
how are you and how's your week of trade. I hope you will be fine. you have good anaylsis of trade and the situation of cronavairous.Oil is downside . low levelmif the month 49$ per barrel. Crude oil price resumed its negative trading after the rise that witnessed this morning, while stochastic overlaps negatively now, so the chances are available for achieving more of the downside moves in the upcoming sessions, supported by the EMA50, reminding you that our waited target at 49.40, while acheiveing it requires holding below 53.20 level.expected trading range for today is between 50.and support level 52.00 resistance.good time for traders to make buying entry was and make good profit.
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