Tuesday, February 9, 2021

Video: Updated Crude Oil Price Forecast for February – WTI Oil Hits 2.5-Year High!

In the present video, David Jones from Capital.com provides his updated forecast for WTI crude oil in February 2021. He starts the video with fundamental analysis, discussing the strong start of the year, the reasons for the rally of crude oil prices, and factors that will be affecting the commodity in the near future. Next, David lists the major support and resistance levels. He then turns to technical analysis, showing charts and technical indicators, while trying to predict where prices may go next. In the end, David decides to be a buyer, placing a buy order if crude breaks higher and setting a stop-loss between the two nearest major support levels. He is concerned, though, that prices were rising for too long, and a correction may happen fairly soon.

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source https://www.earnforex.com/commodities/video-updated-crude-oil-price-forecast-for-february-wti-oil-hits-2-5-year-high/