Brent may give a great trade

Brent may give a great trade

2019-11-11 • Updated

Trade idea

BUY 64.70; TP1 66.30; TP32 68.30; SL 64.30

It’s not confirmed yet, but there may be an exciting trading opportunity you wouldn’t like to miss. Brent oil looks much bullish than WTI. It’s currently testing levels above the 38.2% Fibo retracement of the 2018 decline in the 64.00 area. The trendline from 2016, which used to be a support, now acts as resistance at 64.50.

It’s necessary to wait for Brent to close the day/week above this level. If it happens, then the inverted “Head and Shoulders” will allow targeting a big leap up to 66.40, 68.40 and even 70.00. Such advance will be possible if the United States and China find a compromise in their trade dispute and risk sentiment soars.

Make sure though that you don't enter this trade prematurely as we need a confirmation (a close above resistance) to make sure that the breakout to the upside isn't false.

Brent.png

Notice that if you want to trade Brent, choose BRN-19J or BRN-19K in your MetaTrader (File - CFD Futures).

Similar

New UK Prime Minister is to Freeze Gas Bills
New UK Prime Minister is to Freeze Gas Bills

After the resignation of Boris Johnson in July 2021, the conservative party was preparing for an election. With 57.4% of the vote, Liz Truss will be the new UK Prime Minister (PM) for the next two years. She is about to change a lot, and we are about to tell you everything you need to know.

What to Trade on June 6-10?
What to Trade on June 6-10?

The US Fed is speeding up its monetary tightening, and crypto may experience the most challenging times since the beginning of the market. Commodities are in danger, too. Dive deeper into the most important events of next week!

Latest news

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera