empty
 
 
30.06.2020 04:37 AM
Control zones for OIL on 06/30/20

Oil tested the defining support in the form of WCZ 1/2 37.71-37.32 again yesterday, which led to growth and an absorption pattern to form on the daily level. Purchases from the control zone must be kept until the monthly high is updated, afterwards they can be converted to breakeven or a part can be consolidated.

This image is no longer relevant

Working within the ascending momentum in the medium term makes it possible for you to hold part of the position based on testing the 46.19 level, which is the main goal in the long term.

The option to continue forming the accumulation zone will develop if testing the month's high results in forming an absorption pattern of the daily level and an increase in offers. This will indicate the need to open a short position and close all purchases.

This image is no longer relevant

Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.

Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which changes several times a year.

Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.

Samanta Kruder,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback