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28.03.202309:09 Forex Analysis & Reviews: Trading tips for oil

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 28.03.2023 analysis

The previous trading plan for oil aimed to raise its rate in the market.

Exchange Rates 28.03.2023 analysis

That is exactly what happened this week, when the quote moved up and headed towards the resistance level of 71.5.

Exchange Rates 28.03.2023 analysis

This means that traders could now close part of the long positions for profit.

Huge congratulations to those who followed the strategy as the price movement was as much as $5!

The trading idea was based on the "Price Action" and "Stop hunting" methods.

Good luck and have a nice day! Don't forget to control the risks.

Andrey Shevchenko
Analytical expert of InstaForex
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