Analysis for oil, gold, and EUR/USD for 29.04.2020

USCrude – oil

Oil middle-term downtrend continues, as the key resistance hasn’t been broken out. The key resistance is in the zone of [11.67 – 10.92]. I don’t recommend selling oil, although the trend is down. I believe the instrument is strongly oversold.

I recommend expecting the trend reversal up and buy the instrument then. The trend will turn up when buyers break level 11.67 out and consolidate the price above.

The oil price is now rising from Target Zone 4 [6.49 – 5.93], strong middle-term support. The upside target is the high of last week.

The short-term uptrend hasn’t…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>