Since August Brent has been in a downward trend, inside a channel.
Both RSI and the channel itself show strong signs of reversal. This trade is quite a risky one since we will be trading against the trend. After the resistance has been hit, be wary of a strong reversal in continuation of the downward trend. A stop-loss around $36 will minimize losses in case of mass lock-downs across the world.
With rising COVID cases across the world and looming economic shut downs, oil will remain under pressure for at least the remainder of 2020.
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Both RSI and the channel itself show strong signs of reversal. This trade is quite a risky one since we will be trading against the trend. After the resistance has been hit, be wary of a strong reversal in continuation of the downward trend. A stop-loss around $36 will minimize losses in case of mass lock-downs across the world.
With rising COVID cases across the world and looming economic shut downs, oil will remain under pressure for at least the remainder of 2020.
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If you like this analysis, please like, subscribe and comment.
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🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.