This article was posted on Tuesday, 15:54, UTC.
Oil: Short-Term Sell (Update) Oil futures, 4-Hour Chart Analysis Oil attempted another rally on Monday but it failed to reach the $50 level and turned lower once again today. We lowered the stop-loss level on our recommendation thanks to the new short-term swing-high, putting the order just above the $49.30 level. Longer-term traders could also lower the stop-loss to around the $51 level, as the re-test of the $47 support zone looks more and more likely. The MACD indicator crept back into neutral territory after the consolidation period, and a new swing lower is in the cards in the…
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Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.