Analysis for oil, gold, and EUR/USD for 20.04.2020

USCrude –oil 

Starting from today, the CME Group increased margin requirements for oil futures to 7500 USD per contract. This is the record value for US crude oil futures.

It is clear form the medium-term timeframe that the price has reached the major sell target, Target Zone 2 [17.69 – 17.13]. The medium-term trend is still down. If sellers break out TZ2, the next downside target will be TZ 3 [12.09 — 11.53].

The short-term trend is also down. Oil price is now trading in the support zone Target Zone 2 [17.69 – 17.13]. A local correction may start up…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>