Technical Analysis #C-BRENT : 2020-04-06

IFC Markets

Master Trader
Oct 31, 2012
1,938
10
84
London (Great Britain)
www.ifcmarkets.com
IndicatorValueSignal
RSIBuy
MACDBuy
Parabolic SARBuy
FractalsBuy
MA(200)Neutral
Bollinger BandsNeutral
Chart Analysis
IFC Markets Tech Analysis

On the daily timeframe, Brent: D1 is trying to correct upward after a powerful decline. A number of indicators of technical analysis formed signals for a further increase. We do not rule out a bullish movement if Brent rises above its last maximum and psychological level: 35. This level can be used as an entry point. The stop loss is possible below the last lower fractal, the lower limit of the neutral range, the 18-year minimum and the Parabolic signal: 24.5. After opening the pending order, we move the stop loss following the signals of Bollinger and Parabolic to the next fractal minimum. Thus, we change the potential profit / loss ratio in our favor. After the transaction, the most risk-averse traders can switch to a four-hour chart and set a stop loss, moving it in the direction of trend. If the price overcomes the stop level (24.5) without activating the order (35), it is recommended to delete the order: market sustains internal changes not taken into account.

Fundamental Analysis
On April 6, 2020, an extraordinary OPEC + meeting is to be held to limit the oil production. Will Brent quotes grow?