Chart speaks for itself.. after failing below the 200dma oil has managed to climb back and hold above the 200dma (green).. it has also broken a downtrend which has kept price action moving lower. over the last couple of weeks. odds are for higher oil prices from here.. I have seasonality only peaking at the end of September so it would then suggest we can expect a move higher throughout September
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"If you do what you love, you'll never work a day in your life" - Marc Anthony
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.