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Video: Oil Price Analysis for May 2020 – New Saudi Production Cuts to Fuel Rally?

May 13, 2020 at 18:43 by Vladimir Vyun

In the present video, David Jones from Capital.com provides his forecast for crude oil in May 2020. He starts the video by discussing the recent moves of oil prices and the reasons behind them. Next, he lists important support and resistance levels. David then shows charts of the commodity, speculating where prices may go next. Waiting for prices to break either to upside or downside after a period of range-bound trading, David places orders to buy in case prices move higher or sell if they go lower. In the end, though, he leans more towards the bearish side as the longer-term trend remains down.

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