Forecast – BEARISH

Date Posted:       24 Apr 2020

Currency Pair:     XTIUSD

Current Rating:   SELL

Forecast Move:    DOWN

Key Tech Level:    18.75

Potential Opportunity

Trade Action:   FALSE BREAK

Stop Loss          -50 pips

Entry                  18.75

Take Profit       +150 pips

Chart & Forecast Details

The Oil market has taken a pounding this past week hitting a record low of -$40/barrel. It’s retracing nicely back towards resistance with plenty of upside momentum so our preference is to get short waiting for a False Break above 18.75. I can’t see any reason for Oil to rally as the lockdowns continue, so I’m quietly confident this trade will be successful.

Brad Gilbert

CEO & Founder of Traders4Traders – Brad has been trading for 28 years and was a former Chief FX Trader for Citibank. Brad trades all markets and all timezones.

Trades: EUR, GBP, AUD, NZD, CAD, JPY, CHF, DOW, SP500, OIL, GOLD

Forex Trading Courses, workshops & funding opportunities

Get Funded
Join our Forex T4TCapital Trading Programme and let us run the risk!
Get Educated in your own time and learn how the bankers trade.
Our Complete Online Forex Trading Course is the ideal starting point for all traders, both beginners and veterans .
Make trading a full-time career
Our Fast Track Forex Trading Workshops will take you from the beginning to being a full time trader in 5 days.