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Video: Brent Oil Price Analysis for July 2020 – Can OPEC+ Counter Demand Fears?

Summary:
In the present video, David Jones from Capital.com provides his forecast for crude oil in July 2020. He starts the video by discussing the recent performance of crude and factors that were driving it as well as factors that will be affecting it in the future. Next, David lists important support and resistance levels to watch for. He turns to charts then, trying to guess where prices may go next after the long period of sideways trading. Despite the majority of traders seem to be buyers, David decides to close his long position and open a short position due to concerns that various countries across the world reintroduce travel restrictions, and that can drive prices 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

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In the present video, David Jones from Capital.com provides his forecast for crude oil in July 2020. He starts the video by discussing the recent performance of crude and factors that were driving it as well as factors that will be affecting it in the future. Next, David lists important support and resistance levels to watch for. He turns to charts then, trying to guess where prices may go next after the long period of sideways trading. Despite the majority of traders seem to be buyers, David decides to close his long position and open a short position due to concerns that various countries across the world reintroduce travel restrictions, and that can drive prices 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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