Azerbaijani analysts urge to be cautious when trading in oil futures
Baku, Azerbaijan, Nov. 7
By Taleh Mursagulov – Trend:
It is recommended to exercise caution when trading in oil futures, the Azerbaijani investment company InvestAZ said in its daily summary.
The analysts of the company said there is a decline in prices of the Brent oil to $70.5 per barrel on the hourly chart.
Thus, the analysts believe that if the price hits the level of $71.16 in a downward direction, the following decline targets will be $70.28 and $69.39.
The analysts say if in case of an alternative scenario the price hits $73.26 in an upward direction, the price will reach the targets of $74.1 and $74.94.