fetilevent
Long

LONG BRENT "BRENT MAY RISE ON IRAN-US TENSIONS"

TVC:UKOIL   CFDs on Brent Crude Oil
DISCLAIMER:
As a trader you should consider your own risk:reward ratio and do proper lot sizing according to your margin and leverage level.
Not every idea is a valid trade.
This analysis is a trading idea, not a trading signal for you.
My own trend direction estimation, entry point, stop loss and take profit levels are on the chart.

Good Lucks.

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Comments

I think the triangle you drew is not valid in the future. I suppose a drop to a lower basis and stop there to go upside.
What do you think?
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Overcoming and sustaining a rally over the pivot at $55.13 will signal the presence of buyers. If this creates enough upside momentum then look for the rally to possibly extend into the minor top at $56.56.

Taking out $56.56 will change momentum to the upside. This could lead to a test of the Fibonacci level at $58.73.
Reply
Worldwide crude oil prices will average $65 a barrel for 2020 and $68/b in 2021. That's according to the Short-term Energy Outlook by the U.S. Energy Information Administration.
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