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OIL weighed down by wave 2 fears and spreading lockdowns – US OIL Market Outlook – 30/10/2020

WTI Crude closed below the 200 period SMA on the daily chart, falling by more than 3% in yesterday’s session, weighed down by wave 2 fears and spreading lockdowns despite better than expected GDP and labor data out of the U.S. Failure to retrace above $36 pbl resistance level (previously support), will favor further downside with $35 as closest target.

Support: 36/ 35 / 33.50
Resistance: 37 / 38

SquaredFinancial Daily Market Outlook

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SquaredFinancial Review 

Friday, 30 Oct, 2020 / 9:01

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Source : https://www.squaredfinancial.com/learn/daily-market-outlook/oil-weighed-down-by-wave-2-fears-and-spreading-lockdowns-us-oil-market-outlook-30-10-2020

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