Strategy
- Price entry at 1.36 with Stop Loss set at 1.165.
- Resistance at 1.50.
- 1st TP at 1.50, 2nd TP at 1.65, 3rd TP at 2.05.
Technical Analysis
- Current price moved at above 25 & 50 Moving Average which also serves as the support level.
- 1st Southern Doji formed on 14 May 2020. Morning Doji Star also formed for these 3 days.
- 2nd Southern Doji formed on 28 May 2020.
Fundamental
- Brent Oil Price is trading at 39USD above on 2/6/2020.
- OPEC Meeting on 04/06/2020 likely to cut production further until July and August.
- Price entry at 1.36 with Stop Loss set at 1.165.
- Resistance at 1.50.
- 1st TP at 1.50, 2nd TP at 1.65, 3rd TP at 2.05.
Technical Analysis
- Current price moved at above 25 & 50 Moving Average which also serves as the support level.
- 1st Southern Doji formed on 14 May 2020. Morning Doji Star also formed for these 3 days.
- 2nd Southern Doji formed on 28 May 2020.
Fundamental
- Brent Oil Price is trading at 39USD above on 2/6/2020.
- OPEC Meeting on 04/06/2020 likely to cut production further until July and August.