Trade Brent Crude Oil with Unum Capital.
To get started, email lester@unum.co.za
What is the overall trend for Brent Crude Oil? The overall trend is bullish, but the market is currently nearing an overbought range.
What is the short-term price action reading? Aggressive buying is underway, but the market is overbought on the lower time frame. Consolidation or a minor retracement is likely.
What is the medium-term price action reading? Aggressive buying is underway, but traders should not chase the market higher. Look for an opportunity to short-sell back to the 8-EMA if there is an overshoot or failure to hold prior session range highs.
What is the long-term price action reading? A strong attempt at a bullish reversal is expected following a consolidation phase.
Previous Post: Strong price action over 2 weeks and a strong reversal in the 7 weeks since the 'Strategy Alert' (see below).
Previous Post: Strategy Alert: Brent Crude Oil
Wednesday 13 November 2024 (Time: 15h42)
Potentially Bullish: Inverse Hammer Candle Formation In Development.
Lester Davids
Analyst: Unum Capital
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