KPFX is a unique and powerful platform built to empower modern-day traders using video tutorials, artificial intelligence and technical trade ideas.
if you are a complete beginner, check out our video courses to make a success of your trading endeavours
KPFX is a unique and powerful platform built to empower modern-day traders using video tutorials, artificial intelligence and technical trade ideas.
if you are a complete beginner, check out our video courses to make a success of your trading endeavours
KPFX is a unique and powerful platform built to empower modern-day traders using video tutorials, artificial intelligence and technical trade ideas.
if you are a complete beginner, check out our video courses to make a success of your trading endeavours
18 hours ago by Niko
Brent crude oil prices are hitting a major area of interest! Will there be enough bulls at the
resistance zone to stop UKOIL's upswing?
Read More
18 hours ago by Niko
Brent crude oil prices are hitting a major area of interest! Will there be enough bulls at the
resistance zone to stop UKOIL's upswing?
Read More
18 hours ago by Niko
April 4, 2023 8:18 AM BST in TRADE IDEAS
In case you missed it, OPEC and its major oil-producing friends started the week by announcing surprise production cut plans starting May.
The cuts are expected to take out around 1.16 million barrels per day (bpd) worth of supply on top of the 2 million bpd cut announced back in October.
Not surprisingly, crude oil prices including Brent crude oil shot higher yesterday.
UKOIL opened with a gap from Friday's $80 closing prices to its $83.50 open price on Monday.
Coincidentally, that's above the 100 daily SMA resistance that hasn't been broken since prices were above $110 in July 2022.
How high can oil prices fly?
Optimism over the summer driving season and China's reopening prospects could give momentum to
UKOIL's upswing.
The benchmark index could reach the $89.00 previous high or the $90.00 psychological handle near the 200 daily SMA before seeing sustained selling pressure.
On the other hand, traders could focus on the impact of higher oil prices on the markets.
This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.
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Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Steve Jobs
- Steve JobsTwenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Steve Jobs
- Steve JobsTwenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Steve Jobs
- Steve Jobs