16.03.2020 CRUDE OIL ANALYSIS

16.03.2020 CRUDE OIL ANALYSIS On the fourth trading day of the week, both oil stocks in the US rose by 7.7 million barrels compared to the previous week to 451.8 million barrels. As a result of Trump's travel statements during the day, the oil was falling sharply. On the last trading day of the week, while the negative effects of the virus spreading in the global markets continued, it was observed that Petrol continued its limited gains at the end of the day with the developments followed. Technically, it was observed that Crude Oil remained determinant at $ 32.90 level. 33,50, 34,20 and 34,80 are important resistance levels that should be followed if the upward trend in Crude Oil continues, as long as 32,40 is above the support level. 32.40, 31.80 and 31.20 support levels should be followed in the downward movement of the trend with possible sales.