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.
UK Brent crude oil pushed past $70 per barrel on 2020, the highest levels seen since seven months, over fears of escalating geopolitical tensions in the Middle East region. Analysts have forecast that Brent crude could soar beyond $150 in case the conflict between US and Iran increases to a full-scale war.
As a trader you should consider your own...
Would just like to remind you that we still need oil to get to space.
Gold is a heat reflective material required for space travel and atmospheric re-entry, so please hold and sell your gold accordingly.
Also, Brent changed their ticker from BRENT to BURN1!.
MACD signal line will cross going upward on the month-view around 69 dollars according to...
There is a chance that we have a Head And Shoulders Pattern shaping on the chart of Brent Crude Oil.
Breakdown of the Neckline needed to succeed to the target at 52.30. (The height of the Head subtracted from the Neckline).
This idea accords with my ealrier 4-hour chart idea of the downside in the Brent (see related)
It looks like oil has topped recently and now is heading south to hit the previous major low in the sub-30 area.
Wait the breakdown of the corrective structure for confirmation.
Bearish divergence could play out soon.