mikeycollins

Brent Oil: Long or Short

MOEX:BR1!   BRENT OIL FUTURES
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The Oil             market is in at a key pricing level whereby a ceiling has been put in place since Aug 2015.

The $54 level has been tested 4 times, and failed on each occasion with a notable retracement seen on each occasion.

If a break above this price ceiling is made, a buy order should be initiated with a target of $60.
Only sell if fundamental news comes out regarding the OPEC decision in Algiers i.e. a breakdown in agreements or flaring tensions between Saudi A. and Iran.
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