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CRUDE OIL OUTLOOK 22.05.20

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Oil prices were on the rise on Friday, heading for a fourth straight week of gains, amid more evidence that fuel demand is recovering as countries ease business and social restrictions that were imposed to counter the coronavirus pandemic.
Brent crude was up 14 cents, or 0.4%, at $36.20 a barrel by 0040 GMT, after gaining nearly 1% on Thursday. The contract is heading for a jump of more than 10% for the week.

IMPORTANT LEVELS FOR 22/05/2020

RESISTANCE 1 – 2580
RESISTANCE 2 – 2604
RESISTANCE 3 – 2630

SUPPORT 1 – 2530
SUPPORT 2 – 2504
SUPPORT 3 – 2488

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ProCapitas Market-Pro Team

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