2019-12-05 • Updated
Trade ideas
SELL 62.50; TP1 62.00; TP2 61.30; SL 62.70
BUY 63.75; TP 64.25; SL 63.60
The meeting of oil exporting countries will provide the fundamental reasons for the commodity’s price to make big moves. Technically, Brent made a big advance yesterday rising from the support of the 100- and 50-day MAs in the 61.25 area. The price is currently trading below yesterday’s high of 63.50. If the positive news push oil above this area, it will have the scope to rise to 64.40 (200-day MA). The further resistance will be quite far away – at 66.00 (resistance line connecting 2019 highs), but to get the breakout of the moving average should be confirmed. On the downside, the slide below the 100-period MA on the H4 will open the way down for a decline to 61.95 (200-peiod MA on H4) and 61.25 (daily MAs).
To trade Brent with FBS you need to choose BRN-20G in MT4.
Saudi Arabia and Russia, two of the world's largest oil producers, have decided to extend cuts to their oil production to support oil prices and boost income. This move comes despite weakened demand due to the sluggish economy.
Oil prices fell to a three-month low following the release of US inflation data which was in line with expectations. The annual inflation rate of 6%...
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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