Strifor || BRENT-18/04/2024

TVC:UKOIL   CFDs on Brent Crude Oil
Preferred direction: SELL
Comment: An excellent situation has formed for oil in the short term. After the price falls below level 89, the continuation of the downward trend towards level 85 is considered, where we set a target for this trading idea. Buyers are trying in vain to buy off the “bottom” of the market, but today the limit buyer dominates the market and pushes the price down.

We are considering two scenarios, where scenario №1 is more likely, but in no case do we forget about scenario №2, in which there will be a preliminary liquidation of “extra passengers”, and this will also allow us to attract new buyers as “fuel” for the trip down. One can also consider targets below level 85.

Additional comments on this trade will be provided as situation changes. Follow us!

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