Invest in Brent Crude – Interim update

In our Risk management analysis of September 29 we expected Brent Crude to fill the gap at 60.22 which happened already on Monday 30 September at 20:00 hours European Central time. This market remained in a strong ST downtrend which we now analyse to be ending imminently. As a result we re-enter our original Brent crude investment position from 2 weeks ago, which we closed with an unexpected opportunity profit, and with a fresh 50% allocation today. ST-D (Short Term Daily) Risk weight is deeply oversold at under 5% with MT-W (Medium Term Weekly) in a lower range downtrend (35%) looking to establish bullish diverge. This appears a low risk investment at around 57.60 especially with the 8% transaction cushion of last week.

Posted in A - All Financial Blogs | 2020 Forecast, Z - INTRAWEEK MARKET FORECAST | EYEFORGOLD.