Oil at the upper boundary of the corridor.

Aug 31, 2023

Brent oil is the second time in five weeks to the upper limit of the global corridor. Of course, there are quite a number of buyers on the market. And it seems that there are more and more of them, because during these 5 weeks, the forces of buyers released the quotes down very close to the current levels. What can not be said about April 2023, when after the first touch of the level of 86.90, the price immediately went down to 71.50 with almost no tangible pullbacks. Perhaps this time the bulls will succeed. You just need to remember that buying now can carry a high risk. Buying risk content will decrease if the price consolidates above 86.90.