UKOIL BRENT. Double top idea and beyond
Hi Folks:
The previous idea seems to be about to fail due to market tighten and worsening fundamentals and therefore I will hedge partially my positions if the idea fails (unfortunately it looks like that).
There are no further resistances till a possible double top and the weekly resistance at 87.5+
International leaders are strongly asking OPEC+ to increase their production quotas and at some point we may have some important reaction in one way or another.
If you are no familiar trading oil better wait a bit till dust settles as there is a lot of volatility and uncertainty at the moment and anything could happen, from 120$ a barrel to a new covid outbreak and go back to 50s.
Cheers.
UKOIL
If you liked this idea, kindly support the free charting by clicking LIKE and FOLLOWING. Much appreciated.
The previous idea seems to be about to fail due to market tighten and worsening fundamentals and therefore I will hedge partially my positions if the idea fails (unfortunately it looks like that).
There are no further resistances till a possible double top and the weekly resistance at 87.5+
International leaders are strongly asking OPEC+ to increase their production quotas and at some point we may have some important reaction in one way or another.
If you are no familiar trading oil better wait a bit till dust settles as there is a lot of volatility and uncertainty at the moment and anything could happen, from 120$ a barrel to a new covid outbreak and go back to 50s.
Cheers.
UKOILIf you liked this idea, kindly support the free charting by clicking LIKE and FOLLOWING. Much appreciated.
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