o, last Wednesday, as you know, data on excess oil reserves came out in the United States. Traders, naturally, reacted with sales, and this is understandable. The next day, on Thursday, after stock, the positive news came out from the fields of negotiations between the US and China about plans to abolish mutual duties - and the news won back in positive territory. On Friday, there was a bullish takeover at D1 and the day closed even higher, which suggests that the seller is very weak during the Oil Reserves Day. Therefore, the players win back the "duties"
As a result, updating the 57.88 on the futures is expected. In addition, since 57.88 is formed by a weak seller, it is very likely that this extremum will be broken, and the next target is 59.5 dollars per barrel. If you will implement this trading idea on a "spot" - transfer trading levels relative to the body of the candles.
Good luck in trading and follow the money management.
