FX.co ★ CL/Crude Oil

Hello everyone. At the end of the trading week, #CL managed to grow, but the price did not hold above 100.00, so I assume that the decline will continue at least to the support at 84.42, and only after this low is removed would I personally consider buying the asset. As we can see, the spill has not been opened yet, and Trump's imaginary world has not materialized. This decline will most likely be just a manipulation, after which it will be more probable to buy, but I wouldn't expect any stabilization of oil prices, especially since there are already significant issues with oil, particularly after Iran suspended passage through the strait. On the other hand, even if something is resolved regarding this strait, the commission for tanker passage through Iran will significantly raise oil prices. Therefore, I wouldn't short, but would wait for the decline to the previously mentioned level - 84.42, and then go long from there, as the location will be most favorable for making purchases. Have a great weekend.