Long
BRENT BULLISH OUTLOOK
The price cap on oil imposed on Russia as far is proving unsuccessful, since China and India are bulk purchasing Russian oil, and Japan is opting out to lift the cap as well since it is dependent on oil from Russia.
Both MACD and RSI indicators are confirming the trend, with MACD histogram rising and RSI approaching 50 neutral line from below.
If this scenario continues, the price might test levels of 89 USD. As a pivot point might be considered levels of 77.5, and if the price passes that point, it might test levels of 72.5
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
Both MACD and RSI indicators are confirming the trend, with MACD histogram rising and RSI approaching 50 neutral line from below.
If this scenario continues, the price might test levels of 89 USD. As a pivot point might be considered levels of 77.5, and if the price passes that point, it might test levels of 72.5
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.