We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

  • TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
  • TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
  • TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood
We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details
Market News Crude Oil Markets Pierce the Trendline

Crude Oil Markets Pierce the Trendline

As recessionary worries persisted as a prominent issue on Wednesday, crude oil prices took a beating during the day.

Eden
2022-06-23
432

微信截图_20220623114831.png


Technical Analysis of WTI Crude Oil

To demonstrate how erratic the market will be, the West Texas Intermediate Crude Oil market broke through a significant trendline on Wednesday during trade. Since everyone is currently focused on the likelihood of a recession, the $100 level will most likely serve as the next significant support level.


Although we haven't formally changed trends yet, $100 is significant from both a structural and psychological perspective. Because of this, you must be informed and play the market appropriately. Although a bounce has caused a lot of harm, it does make some logic.

Technical Analysis of Brent Crude Oil

Additionally, throughout the trading session, the Brent markets declined and fell under the $110 barrier. But now, buyers have returned, driving this market higher once again. You need to pay great attention to what happens with the downtrend line beneath because it will continue to be crucial. In the end, I believe that this market will remain quite loud even though it is still officially rising.


I am worried about the general rise, not that we break down below the $100 level on one of these two oil markets, and it should be highlighted that most of this is based on recessionary worries, despite the fact that the key indications in China are rather good. In other words, if you allow it enough time to develop, this will probably turn out to be a purchasing opportunity. As usual, position sizing will be important.

Previous
Next

Bonus rebate to help investors grow in the trading world!

Need Assistance?

7×24 H

Download the APP for Free