Does the optimism that caused oil prices to jump more than 2% will continue

oil prices technical analysis 

Oil prices jumped sharply on Monday after the US and China agreed on 90 days at a weekend meeting at the G20

Last Friday, the price of oil stood at $ 50.70, yesterday’s opening, the price jumped to $ 52, leaving Gap behind – an open price gap that will likely close sooner or later
The question is what is next?

The last post was  Are we need to be prepared for Crude oil Prices To Rebound

Crude oil price analysis
 oil technical analysis

Crude oil technical analysis

Its the first time that price has traded above the white band!  

After the big drop last month, the trend has changed to bearish and 64 $  oil price level became resistance level,  now we need to watch on 54 -55$ price area that may become short-term resistance area also, I am expecting to see retracement on those level to check again 56- 60$ price area if 57 will break up this round 

Break above 57 +_ levels  price will send crude oil to cope with the 60+_ price level, while stay below those levels will  show us that this is just the beginning of a great journey down

 oil price  analysis
Crude oil analysis

This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice

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