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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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
🎯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
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.