Oil Price is on the Rise

Good day,
The US stock index S&P500 has repeatedly approached the maximums. The asset might test them next week, targeting the key level of 3978.50. So far, it seems that the index is likely to drop although it might also break the resistance and jump.

The price of the Russian ruble is slowly pulling from the upper boundary of the range. Hence, the USD/RUB pair could drop soon. Of course, the Russian ruble might break the level and jump but this is less likely to happen. So, let’s wait and see how it goes.

Oil has pulled back to the level of 60.00, closing the trading week with a hammer. The price of oil is likely to get back to the leg of this hammer and then only jump. Although it might also jump at the market opening.

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Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% and 75% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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