Bears keep playing with oil

Bears keep playing with oil

2020-04-20 • Updated

Oil prices remain under pressure. After Brent has broken the consolidation range to the downside and fell below 30.00, it got some support ahead of 27.00. At the same time, the Awesome Oscillator on the D1 formed a negative “saucer” signal. As a result, the odds are that the price will revisit lower levels, such as 25.00 (support on March 19-23). On the H1, the Moving Averages are already in the negative order. On the H4, 100-period MA provides resistance at 28.90.

Trade idea for Brent oil

SELL 26.70; TP 25.20; SL 27.05

To trade Brent with FBS you need to choose BRN-20M in MT4. 

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