Daily oil analysis on 17-12-2019

Daily oil analysis
The rise of oil was expected as we explained on 12-12-2019, but will the rise continue, may continue a little before confirming the decline
The oil rose upside sideways inside an ascending channel and we expect that the rise is nearing completion and since the prices are below the 63.50 level the oil becomes closer to sell and the prices of 59.60 to 60.57 prices may be the points of reflection on the oil so we monitor prices well in the area specified on the chart. Stay tuned daily for daily oil analysis on our website.
It is possible that the upside move continues slightly before landing again, so it is best to wait for confirmation
In the following diagram we show the expected movement on oil

Learn more: