Oil started the trading session with very little volatility, as investors are awaiting US data on crude oil inventories.
From a technical point of view, the main trend remains weak, as the price was not able to rebound above resistances placed at $53.70 and $55. The optimism seen on Brexit was not enough to sustain the price, while fears of an economic slowdown and potential trade war damage remain key concerns. For WTI there is a first support level at $52.50, while the area $51.50 represent a key support level. The first positive signal will arrive only with a solid recovery to $55.
