Brent crude - short term bullish bias
The crude is slowly recovering after the sell-off in late September, we may expect the price to test the 50% (63.00) then the 61.8% (64.50) Fibonacci retracement levels successively. On the hourly chart, the price saw strong support around the moving averages during each pullback, the sentiment would stay optimistic as long...
Midterm forecast:
Although current trend is uptrend but we forecast a downtrend wave would begin in Midterm.
Technical analysis:
There is a divergence in RSI and price between the peak at 70.35 on 2018-01-15 and the peak at 80.5 on 2018-05-22, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
The RSI...
New to OIl but short played out exactly as expected how long term swing trade will reach price levels i have set out, will keep a close eye on news, new to fundamental analysis and its impact on oil prices
Crude Oil is a naturally occurring liquid fossil fuel resulting from plants and animals buried underground and exposed to extreme heat and pressure. Crude oil is one of the most demanded commodities and prices have significantly increased in recent times.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
