Oil prices failed to confirm a break above the $60 handle and slipped back below $59 on Friday. Today, the prices are making some recovery attempts but the selling pressure still persists as investors show a cautious tone amid the ongoing Brexit turmoil, US-China trade frictions and weak economic data.
As such, the British parliament delayed a crucial vote on...
Brent crude (1H) - short term bullish bias
The oil price has been inching up along a trend line from 8 October. While the medium term outlook is far from rosy, the pullback has some long opportunies on the table for short-term traders. Diverging moving averages are a sign of acceleration to the upside. The price is set to challenge the previous high of 60.70...
UKOIL is bouncing off the standard Deviation Levels.
Increased probability of a large move long on the 4 hour chart.
Last resistance 75
Price need to break out of the current range to confirm the large move up.
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UKOIL was falling strongly. We are having some nice price action on lower time frame watch bottom for buy and look for longer term reversal.
How you can trade on this chart.
1. Watch lower time frame correction and look for breakout and buy breakout
2. Let the price fall for one more short term bearish wave on lower time frame then look for...
After hitting the 200 EMA on the 4-hour chart, Brent oil moved back down to test its short-term upside support line. For now we will stay put and wait for a clear break through one of our highlighted areas in order to consider a further directional move.
Wait for a break first.
Please see the chart for levels and targets.
Don't forget your stop-loss.
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Hello my dear friends,
Brent Oil is at very important support level and it's expected to bounce back from this support toward higher levels.
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