Osiris992

UKOIL APRIL 2024 WEEK 1 OUTLOOK -

Long
TVC:UKOIL   CFDs on Brent Crude Oil
Daily - long is the way to go here on oil. there is a zone above that can provide some resistance **88.15 - 87.17**, once that gets cleared, I will look to get involved. till then, I will wait.
Origin - looks extended here. a pullback seems like the way to go here. I will look for a pull to the zone **86.54 - 85.77** . once price enters this zone, I will drop to my trigger timeframe and then look to enter long. no matter where I enter, as soon as price comes around the daily highlighted zone, I will book and bail out. COT data is long. Historically, in last 13 years oil has closed down most of the week 1 in april.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.