Brent update

Brent update

If you:

  • buy in point 1 in order to catch breakout above yellow resistance
  • and place your SL in point 2 (under the previous minor low) …

    … then – my apologies. it was the worst trade for the week possible.

What the last bar is telling us?
Too much volume on up-bar with the hitting of center-line, wide range, penetration of previous minor high (blue line). This is more bearish information within described facts. So, I expect at least a pullback down because market is overbought. If we will see NS+DB (more likely – tomorrow) – it could lead to a new attack of bulls on the center-line.

So, in the longer perspective, oil price has more odds to reach new higher ground.

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