CL 12.01.2017
Time frame D1
Middle-term uptrend, correction to levels of horizontal and diagonal support. Higher tops and higher bottoms, which indicates that the upward tendency is still on track.
Price action signal: Engulfing candle at levels of diagonal support
Sentiment: After the OPEC deal for a output cut, the price of the black gold is supported and we can see new upward impulses.
The price is over EMA 50 and EMA 200 - positive sentiment
SL: 49.50
Alternative scenario: If the price goes below EMA 50 and the diagonal support , the positive scenario will be dismissed.
Jr_trader_B_Arabadzhiev
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.