Brent Crude: $44.50 is breaking 🛢
TECHNICALS: Morning traders! Brent crude is reaching its highest level since early March on US stimulus hopes and ahead of the EIA oil inventory data. Strong breakout candle forming on the 1-hour chart.
RISK SENTIMENT: Risk-on this morning, supporting higher oil prices.
HOW TO TRADE: Looking for a pullback to previous resistance and trading pullback weakness. Strength in the correction might send oil back into its previous range, so be aware of a possible fake breakout!
RISK SENTIMENT: Risk-on this morning, supporting higher oil prices.
HOW TO TRADE: Looking for a pullback to previous resistance and trading pullback weakness. Strength in the correction might send oil back into its previous range, so be aware of a possible fake breakout!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.