Commodity Blog

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Video: Oil Reaches Two-Month High! – Oil Price Analysis for May 2020

May 26, 2020 at 21:55 by Vladimir Vyun

In the present video, David Jones from discusses the recent breakout of crude oil when prices have trebled, reaching the highest level in two months. He starts the video by talking about the rally, explaining the reasons for it, as well as risks that can stop the upside movement. David follows then with a list of important support and resistance levels to watch for. Next, he shows charts of the commodity, discussing the oil performance during the last couple of months and speculating where prices may go next. Lastly, he sets up a buy order if crude breaks further to the upside, proving that the rally has not lost steam yet.

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