Stampede to continue (probably)
As I said in my previous UKOIL post the bull rally is very strong, with a strong momentum and the next resistance to test will be at 86.71.
TODAY we hit 84.58, we are just 2 dollars away for the next bull target.
OPEC Monthly report and API/EIA data amongst others will be key for the next steps.
Bears need to test 77 in order to decide their next move.
All the best and expect the unexpected with BRENT and OIL in general. A highly manipulated commodity that I would not recommend for unexperienced traders. (Fundamentals prevail much more than technicals)
TODAY we hit 84.58, we are just 2 dollars away for the next bull target.
OPEC Monthly report and API/EIA data amongst others will be key for the next steps.
Bears need to test 77 in order to decide their next move.
All the best and expect the unexpected with BRENT and OIL in general. A highly manipulated commodity that I would not recommend for unexperienced traders. (Fundamentals prevail much more than technicals)