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The #C-BRENT,H4 Has Turned Bullish
The #C-BRENT price forecast in our January 23, 2020 technical analysis was bearish.
Market analyses after #C-BRENT,Daily January 23, 2020 technical analysis shows oil market bias has turned bullish.
- The American Petroleum Institute reported late Tuesday that US crude supplies fell by 4.3 million barrels last week.
- There have been reports OPEC considers extending output cuts until June, and even a deeper cut from current levels.
Here is what indicators show as of January 29, 2020:
- The Parabolic Indicator gives a bullish signal.
- TheDonchian channel indicates uptrend: it is tilted up.
- The MACD indicator gives a bullish signal.
- The RSI oscillator is level and has not reached the overbought zone.
- The Fractals give bullish signal.
- The MA(200) indicator gives a bearish signal.
So the forecast for the #C-BRENT,H4 has turned bullish.
Order | BUY |
Buy stop: | Above 59.89 |
Stop loss | Below 59.09 |
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