UKOIL BRENT. Double top idea and beyond

Hi Folks:

The previous idea seems to be about to fail due to market tighten and worsening fundamentals and therefore I will hedge partially my positions if the idea fails (unfortunately it looks like that).

There are no further resistances till a possible double top and the weekly resistance at 87.5+

International leaders are strongly asking OPEC+ to increase their production quotas and at some point we may have some important reaction in one way or another.

If you are no familiar trading oil better wait a bit till dust settles as there is a lot of volatility and uncertainty at the moment and anything could happen, from 120$ a barrel to a new covid outbreak and go back to 50s.

Cheers.

UKOIL


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