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

Summary:
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. If you found this video useful and want to see more videos like this one or if you want to see a commodity trading video on some other topic, please leave your response using the form below. ©

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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.

If you found this video useful and want to see more videos like this one or if you want to see a commodity trading video on some other topic, please leave your response using the form below.


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Vladimir Vyun
Vladimir is an online journalist with background in computer science and work experience in pension funds. He contributes news reports, fundamental analysis and sentiment forecasts to TopForexNews.com and CommodityBlog.com. His main specialization is the currencies of emerging economies and inter-market correlations with commodity and bond trading.

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