World oil prices fell due to continued lockdowns in China, the world's top oil importer, sparking concerns about the outlook for oil demand.
The COVID lockdown in China has had a negative impact on the oil market, which was hit by a sell-off along with equities.
In my view 97-100 is support level. This is a good opportunity to buy with the target of the correction up to 103.8
USOIL 6th MAY 2022
Currently, China has shown signs of implementing a new normal, but its economic growth is not as aggressive as before the pandemic.
13 Chinese cities have been in total lockdown since March, and several others have been in partial lockdown.
USDCNY D1
The COVID lockdown in China has had a negative impact on the oil market, which was hit by a sell-off along with equities.
In my view 97-100 is support level. This is a good opportunity to buy with the target of the correction up to 103.8
USOIL 6th MAY 2022
Currently, China has shown signs of implementing a new normal, but its economic growth is not as aggressive as before the pandemic.
13 Chinese cities have been in total lockdown since March, and several others have been in partial lockdown.
USDCNY D1
