FX.co ★ bradtke.owen | CL/Crude Oil

Analysis and forecast for trading instrument #CL Just yesterday I wrote that the situation for the Oil trading instrument was developing favorably for the bears, but the fundamentals could spoil everything. And today, after mutual shelling between Israel and Iran, we see again that the week opened with a small gap up, but most importantly, the downtrend has already been broken and prices are trading above 90. I think everything is heading towards the United States having to intervene in the conflict again, because without the use of force to restrain Iran, there is simply no possibility, so in that case, the path to 100 will be open again. On the other hand, all of this may not last very long, just to strengthen their negotiating positions, so a global increase in quotes for the trading instrument #CL may not be expected for now. But from the support level of 93.50, long positions can be considered with a target around 100. Of course, this is the market and everything can change, but for now, with a high probability, it can be said that today will be in favor of the bulls and selling should not be considered in trading.