Brent Crude Oil UKOIL Back in the Buy zone
Well the stop on the short from 63.77 never got hit and Brent
duly came off back to the first target at 63.10 for a small 65
pip win - but should have held it longer as it then went on to
test the lower parallel of the flag, bang on 62.17 support at
the same point in time, and has since rallied much more
strongly than anticipated last week, taking Brent right back
up to the old highs at 64.25 before falling away again. (My
bad here for getting way too involved with Alt/USD's last week
and ignoring this complex in the resulting maelstrom)
Anyway, Brent looks OK...Look to buy around current values
down to 63.00 with stops at 62.88 for small loss if wrong
from here. First upside target is the highs at 64.25-64.61
range - (can close out here if you want) but be ready to get
long again on a move above 64.65 for next stage of rally up to
the upper big parallel - close out here if struck and look to
short with stops 30 pips above the parallel on first touch.
Well the stop on the short from 63.77 never got hit and Brent
duly came off back to the first target at 63.10 for a small 65
pip win - but should have held it longer as it then went on to
test the lower parallel of the flag, bang on 62.17 support at
the same point in time, and has since rallied much more
strongly than anticipated last week, taking Brent right back
up to the old highs at 64.25 before falling away again. (My
bad here for getting way too involved with Alt/USD's last week
and ignoring this complex in the resulting maelstrom)
Anyway, Brent looks OK...Look to buy around current values
down to 63.00 with stops at 62.88 for small loss if wrong
from here. First upside target is the highs at 64.25-64.61
range - (can close out here if you want) but be ready to get
long again on a move above 64.65 for next stage of rally up to
the upper big parallel - close out here if struck and look to
short with stops 30 pips above the parallel on first touch.
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.
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.