Forecast for OIL looks very good. Since February 11 OIL is moving in uptrend (when price reached 26.00 area). At the end of March there was correction at OIL and it finished two weeks later in 38.2% Fibonacci retracement (which is basic Fibanacci level).
There is every indication that correction has finished. Price during last days crashes through resistances at 38.00 and 40.00. Right now resistance at 41.70 should be tested. Bulls were helped by Hot news information: “Saudi Arabia and Russia have agreed to freeze production”.
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