08.04.2020
No new OPEC+ deal has been reached so far. The lack of agreement on oil production cut will lead to a further decrease in oil prices. The oil consumption has decreased, pushing down the prices.
The overall trend is downward. A bearish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals overboughtness. A breakout of 574.30 will result in the formation of a 1-2-3 descending pattern within the overall downtrend.
Trading recommendations:
Sell below 574.30.
Stop loss: 622.90.
Target levels: 534.00; 477.00.
The #TATN rate online: monitor the movement of the shares in real time.
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