BRENT 20.01.2023

UKOIL BRENT

BRENT 20.01.2023

20 January 2023 Amega

Medium-term trend: Bullish

The bull market is continuing. The price has already reached the target zone №1 83.718-82.968 and it is going to the target zone №2 90.338-89.668. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 81.294-80.624. In case of the price is fixed below the control resistance zone the medium-term trend will be changed to the bear market and all long positions should be closed.

Trading recommendation: 

It’s recommended to try to have a long position near the control resistance zone 81.294-80.624 (740 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current maximum. If this maximum changes by n points the zone should also be shifted n points up. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

Amega

Trade with an award-winning STP broker! Lowest spreads on the market for Forex, Precious Metals, Energies, & Crypto. No re-quotes, no rejection of orders & instant withdrawals.

Open account