TECHNICALS: Morning traders! Brent crude is reaching its highest level since early March on US stimulus hopes and ahead of the EIA oil inventory data. Strong breakout candle forming on the 1-hour chart.
RISK SENTIMENT: Risk-on this morning, supporting higher oil prices.
HOW TO TRADE: Looking for a pullback to previous resistance and trading pullback weakness. Strength in the correction might send oil back into its previous range, so be aware of a possible fake breakout!
RISK SENTIMENT: Risk-on this morning, supporting higher oil prices.
HOW TO TRADE: Looking for a pullback to previous resistance and trading pullback weakness. Strength in the correction might send oil back into its previous range, so be aware of a possible fake breakout!
