BullBearMkt

IS BRENT OIL EXHIBITING 2016 - 2018 PRICE MOVEMENT?

Long
TVC:UKOIL   CFDs on Brent Crude Oil
Looking at Brent Oil (and WTI) monthly price chart, one cannot help but to see similarities in their price movement. While Oil bottomed out Jan 2016 ("y"), it then later makes series of higher-highs ("i", "ii") & higher-lows. Almost similar price movement is not displayed recently with price bottomed out in April 2020 & has just made a Swing-high (i).

Moving forward, Oil is expected to pullback most likely towards the bullish-order candlestick (as highlighted in green), before commencing a more aggressive upward rally with immediate target at 75.

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