Oil market.
Looking at the oil (Brent) chart, a lot of interesting thoughts in terms of making a profit come to mind. In June 2021, the resistance line from the downtrend that began in March 2012 was broken. upward movement. On the Fibonacci grid, we see that the key support level is located at $63 per barrel. The price already tried to reach there in March and May 2023, but could not. We can conclude that the chart foreshadows us a rapid rise in quotes in a short time. Regarding the term, the conclusion suggests itself from the fact that the release from support is allegedly delayed. But there are no delays in the market, which means that the upward movement will try to compensate for the time spent on trampling in the support area.
Taking into account the described background, transactions aimed at the growth of prices for Brent oil seem to be less risky. If you prefer to invest in stocks, then investing in shares of oil companies will be profitable.
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