CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Chart of the day - OIL (30.06.2022)

09:05 30 June 2022

In spite of a bigger-than-expected drop in US oil inventories, oil prices failed to catch a bid. A strong reversal occurred on the Brent (OIL) market yesterday in the afternoon after price failed to break above an important short-term resistance in the $115.25 area (orange circle). This zone is marked with previous price reactions, 200-period moving average (H4 interval) as well as 38.2% retracement of a recent upward impulse. A following pullback pushed the price to the support zone marked with 50% retracement and 50-period moving average in the $112 area. A break below may signal that a deeper pullback is looming. However, if bulls manage to defend this area, a right shoulder of the inverse head and shoulders pattern may be painted. If such defense is followed by a recovery move that pushes price above recent highs near 38.2% retracement, a stronger upward move may be on the cards. Potential range of an upside breakout from this pattern points to a move towards recent highs in $125 area.

Source: xStation5

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