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Oil is testing support
Information is not investment advice
The recovery of WTI last week met resistance in the 54.60 area. The price formed a gap down on the mounting fears about the coronavirus. The spread of the disease may affect the commodity as the demand for it may decline because of the travelling bans. The decline below the support at 51.55 will mean that bulls are too weak to close the gap. Targets on the downside will lie at 50.90 and 50.00.
SELL 51.50; TP1 50.90; TP2 50.10; SL 51.75
To trade WTI with FBS you need to choose WTI-20J in MT4.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?
First, "ETH merge" Google requests are on the rise. At the same time, "buy ETH" requests are at their two-year lows, which is quite a negative factor ahead of the vast update. The community either doesn’t believe in the success, or they are following the "buy the rumors – sell the news" rule and waiting for the massive dump after the merge.