🛢 BRENT OIL - Entered zone of verbal INTERVENTIONS USA&SAU
In this zone, I expect a BUNCH of bullish info-occasions into the oil market and bullish forecasts of energy organizations and OPEC. Thumb UPđź‘Ť if you agree with me!
Although the United States and Saudi Arabia are already competitors in the oil market, they are in the same team in this zone and will do everything possible to prevent a strong collapse in oil prices. And if this happens, then such a failure should not be long in any case...
There are 3 very important reasons for this:
1) the Saudis' budget is burning.
2) the US problem is even more serious - almost the entire oil industry is sitting on a wild leverage before banks (very large debts to banks - just a cosmic exposure)! Low oil prices = defaults from shale producers = defaults from US banks = disaster.
3) the impact of coronavirus on energy quotes can be called short-term, since factories in China are already returning to work.
Technical Indicator 12H:
1) Awesome Oscillator - turned to green zone and started rise up.
2) Stochastic RSI - started to rise up from the undervalued zone.
Summary:
Buy on pullback around 55.15 and sell in 67 zone. Its more than 20% profit. Stop-loss could be around 53.37
Although the United States and Saudi Arabia are already competitors in the oil market, they are in the same team in this zone and will do everything possible to prevent a strong collapse in oil prices. And if this happens, then such a failure should not be long in any case...
There are 3 very important reasons for this:
1) the Saudis' budget is burning.
2) the US problem is even more serious - almost the entire oil industry is sitting on a wild leverage before banks (very large debts to banks - just a cosmic exposure)! Low oil prices = defaults from shale producers = defaults from US banks = disaster.
3) the impact of coronavirus on energy quotes can be called short-term, since factories in China are already returning to work.
Technical Indicator 12H:
1) Awesome Oscillator - turned to green zone and started rise up.
2) Stochastic RSI - started to rise up from the undervalued zone.
Summary:
Buy on pullback around 55.15 and sell in 67 zone. Its more than 20% profit. Stop-loss could be around 53.37
Trade active:
We are already in a BUY zone.
