JFD_Research

Brent Oil - Daily - Down and then up again?

TVC:UKOIL   CFDs on Brent Crude Oil
Quick idea.

Brent oil still has a bit of room for a further move lower. But the downside may get limited near the upside line. If it holds, the bulls could return into the field and attack again. If that upside line fails to withstand the pressure, this could result in further declines.

Please see the chart for details.

Don't forget your stop-loss.
Jan 13
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Look like there is a lot of bearish sentiment right now, but appreciate your assessment. if you look at the tehcnicals pure and simple i agree we have room for bulls to step in, one thing that could be a driver is if the supply numbers turns a bit more bullish, as recently they have been pretty much in favor of the bear agenda. I am personally looking for the trade agreement to push the price a bit up, and will be paying attention to the supply numbers, and what a reply from OPEC and +OPEC will be to the slide.. -- appreciate the chart!
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JFD_Research Martin_Nielsen
@Martin_Nielsen, Thank you for your comment. Yes, for now it seems to be moving according to plan, but let's see if any buyers start coming in near that upside line.
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