Charting Commodities: could oil bounce off massive support level?

IG technical analyst Joshua Mahony looks at the support for oil at the current levels, and asks the question will it receive the support or is there another leg down?

Trade now

Live Brent | US light crude | Gold | Silver prices

The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.