Looking back at last week, we can see that the crude oil price has broken out of the important technical zone of 78.x. Therefore, in this week, the price trend is likely to increase, testing back towards that convergence zone and then continuing to decrease towards the supportive convergence zone around 75.x.
The crude oil price trend has confirmed the recovery decline (calculated partly based on the Technical Convergence method and influenced by the US dollar index) so prioritize waiting for sell signals. And always apply clearly and disciplined capital management methods to optimize profit generation.
Stay tuned for next week’s updates. And best wishes for investors to have insightful and successful investment deals!
By. Pham Thanh Bien
