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EUR/USD: general analysis 16 August 2019, 14:11

EUR/USD: general analysis 16 August 2019, 14:11 Scenario Timeframe Weekly Recommendation SELL Entry Point 1.1076 Tak...

Jun 12, 2019

Brent Crude Oil: technical analysis 12 June 2019, 10:53


Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 61.98
Take Profit 60.50, 58.80, 57.70
Stop Loss 62.80
Key Levels 57.70, 58.80, 60.50, 62.40, 62.80, 64.60
Alternative scenario
Recommendation BUY STOP
Entry Point 62.80
Take Profit 64.60
Stop Loss 62.40
Key Levels 57.70, 58.80, 60.50, 62.40, 62.80, 64.60
Brent Crude Oil, H4
On the 4-hour chart, the instrument is trading below the lower line of the Bollinger Bands. The price remains below its moving averages that are directed down. The RSI is about to test the border of the oversold zone. The Composite is approaching its strong support.

Brent Crude Oil, D1
On the daily chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that are turning down. The RSI is testing the border of the oversold zone again, having just left it. The Composite is testing its longer MA.

Key levels
Support levels: 60.50 (local lows), 58.80 (September 2017 highs), 57.70 (November 2018 lows).
Resistance levels: 62.40 (local highs), 62.80 (local highs), 64.60 (local highs).
Trading tips
The fall is likely to continue.
Short positions can be opened from current prices with targets at 60.50, 58.80, 57.70 and stop-loss at 62.80. Validity – 3-5 days.
Long positions can be opened from the level of 62.80 with the target at 64.60 and stop-loss at 62.40. Validity – 3-5 days.

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