Oil at instiutional resistance area

TVC:UKOIL   CFDs on Brent Crude Oil
Oil has breeched a huge institutional liquidity zone on it's speedy covid-19 recovery surge.

It's currently trading through and if it keeps up the pace at this rate, it'll be breaking right through within the week.

Should price give us a nice strong breakout of the level, we should be waiting for a relatively strong retest before we see the continuation to the upside and back to levels at approximately $100+ a barrel before July.

This will be a longer term idea but with good merit and great potential.

Risk accordingly.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.