2019-11-11 • Updated
Trade ideas
SELL 51.90; TP 50.70; SL 52.30
BUY 53.70; TP 55.00; SL 53.30
The past 3 weeks were very bad for oil as the price reacted negatively to global uncertainty. There all chances that the fundamental environment will stay this way. Technically WTI is testing levels below the 200-week MA at 53.50. This makes it vulnerable for the retest of June and August lows in the 50.60 area. At the same time, notice that the week isn’t up yet and oil is still flirting with 52.50 (the support line connecting the 2018 and 2019 lows). If the support holds, the return above 53.50 will give oil strength to recover at least to 55.00.
Notice that to trade WTI, you need to choose WTI-19Z in your MetaTrader.
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...
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
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!
|
