BRN1! trade ideas
BRENT CRUDE OIL HAS NOWHERE TO GO BUT UP!!!The oil price fall today , monday 20 2020 is at the highest for 20 years a whooping 104% drop on US oil will see investors loose 100% on their oil investments.. Fundamentally the USA and other counter parts are lacking facilities to store oil so its prices are dropping to zero and there's no where to go from there except up back to test the trendline so just buy.
Crude Oil Brent formed an Inverted Head & ShoulderBrent Crude Oil has been dominated by the bears due to the weak fundamentals and oversupply, demand constraint and insufficient OPEC+ agreement. Brent price dipped again after a short euphoria on the OPEC+ agreement reflecting conflicting vision on traders and investors. Having said that, the Technical Analysis reflects the market is re-testing the lower 20s range and is comfortable at US$25/Bbl. This could form an Inverted Head & Shoulder pattern looking forward to economic recovery signals.
Brent Oil Futures (BR1!) Short Signal
brent is on the key 4H structure.
due to a long term bearish trend and breakout of a minor support on 1H,
I have shorted the retest as the market opened!
my targets
30.2
27.5
stop
34.7
this is the example of the execution of h&s trade,
apply the same rules on gbpusd in previously mentioned setup