Analysis for oil, gold, and EUR/USD for 22.04.2020

USCrude – oil

As you see from the chart, the oil price continues falling and hits fresh lows. The price reached Target Zone 4 [6.49 – 5.93] yesterday. Below this zone, there is the last support zone, Target Zone 5 [0.89 — 0.22].

The oil price is now trading at $5 per barrel. In the short-term downtrend, the price reached Gold Zone 4 [3.69 – 3.41]. After that, the price has been corrected to the key resistance [7.54 – 7.17]. Until the price breaks out this resistance, I don’t recommend selling oil. It will be relevant to buy oil when…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>