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Robust Chinese recovery and Asian Pacific Trade deal boost WTI – US OIL Market Outlook – 16/11/2020

WTI Crude continues to trade between $40/$41 support/resistance levels as investors continue to weigh vaccine optimism over surging Covid-19 cases. Stronger than expected industrial production data released early today out of China, and a major trade pact signed by Asian-Pacific countries through the weekend should keep the bulls in control, with $40 key support level to hold, targeting $42 resistance.

Support: 40 / 39.27
Resistance: 41 / 42

SquaredFinancial Daily Market Outlook

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SquaredFinancial Review

Monday, 16 Nov, 2020 / 9:15

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Source : https://www.squaredfinancial.com/learn/daily-market-outlook/robust-chinese-recovery-and-asian-pacific-trade-deal-boost-wti-us-oil-market-outlook-16-11-2020

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