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US Oil lower after fears of COVID-19’s second wave – US OIL Market Outlook – 12/06/2020


Our short support targets have been reached on WTI Crude as it dropped by 7.45%, ending yesterday’s session at $36.11 as a surge in COVID-19 cases in the states raised the prospects of a second wave and risky assets took a hit with U.S indexes dropping by 5% to 7%. An hourly close below our support at $35.25 favors further downside with $34.35 as the closest support target.

Support: 35.25 / 34.35 / 33.50
Resistance: 36.50/ 37.20

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/us-oil-lower-after-fears-of-covid-19s-second-wave-us-oil-market-outlook-12-06-2020
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