Oil prices have been crazy the last couple of months. But now It can be seen that the market is in the recovery mode. Today, oil is up with 2.30%+ which could be seen as bulls are regaining back the control. If the daily candle closes above 53.26 could lead to more gains and reaching 55.24$. From a technical point of view, oil needs to close above this mark (53.26) today in order to (at least) indicate an upper move, if this happens we will have a strong movement to the next resistance. Otherwise, we will be testing the previous support at fib 0.236.
Trade Safely!
The Forex Farmers.
Trade Safely!
The Forex Farmers.
Trade active:
We moved our SL to our entry point, to breakeven.
Comment:
We forgot to update that our TP was hit on that trade as we anticipated.
Trade safely!
The Forex Farmers.
Trade safely!
The Forex Farmers.
Trade closed: target reached
Trade safely!
The Forex Farmers.