Oil Price on Bullish Trajectory
Good day,
The price of Brent oil broke the resistance level of 46.00. The asset is currently approaching the psychological level of 50. In principle, it seems that the asset’s price is likely to pull from the level of 50.00 and drop. Should the price manage to get back to the broken level of 46.00, oil is expected to jump.
The British pound is approaching the broken uptrend away from which it might drop. Also, the asset might face the resistance at the level of 1.3515 and drop even further.
Gold has closely approached the broken downtrend. It might not only pull from it, but also jump from the supporting level of 1765.83 that is slightly below the estimated pullback point.
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Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% and 75% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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