Strategy
- Price entry at 1.36 with Stop Loss set at 1.165.
- Resistance at 1.50.
- 1st TP at 1.50, 2nd TP at 1.65, 3rd TP at 2.05.
Technical Analysis
- Current price moved at above 25 & 50 Moving Average which also serves as the support level.
- 1st Southern Doji formed on 14 May 2020. Morning Doji Star also formed for these 3 days.
- 2nd Southern Doji formed on 28 May 2020.
Fundamental
- Brent Oil Price is trading at 39USD above on 2/6/2020.
- OPEC Meeting on 04/06/2020 likely to cut production further until July and August.
- Price entry at 1.36 with Stop Loss set at 1.165.
- Resistance at 1.50.
- 1st TP at 1.50, 2nd TP at 1.65, 3rd TP at 2.05.
Technical Analysis
- Current price moved at above 25 & 50 Moving Average which also serves as the support level.
- 1st Southern Doji formed on 14 May 2020. Morning Doji Star also formed for these 3 days.
- 2nd Southern Doji formed on 28 May 2020.
Fundamental
- Brent Oil Price is trading at 39USD above on 2/6/2020.
- OPEC Meeting on 04/06/2020 likely to cut production further until July and August.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.