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As a result of rising infections, Austria and possibly Germany are experiencing a winter lockdown. This has historically been a bearish factor for economic growth and also for oil demand. It is better to wait for support levels to be broken rather than expect higher prices when there is a lack of demand, high prices and a political will to see lower energy prices. But as it is news-driven, we should have a chance to get in on a trade when it retests broken support that acts as resistance.
For more trading details, please check the hyperlinks with time stamp indicated from the video:
