Binary Oil tries to keep the upside direction intact. It is a little bit difficult after the recent violent slide. It is a matter of psychology. The binary traders are suspicious and reluctant to bid the binary instrument for longer periods. They are performing an intraday trading.
The binary oil is pushing higher. The binary traders buy “call” options hoping for much higher levels in order to earn abnormal return. The 5 and 9 EMA`s are behind the binary currency pair keep it from falling. The binary options reach the upper band of the Bollinger Band indicator. It is a crucial moment for the whole trend. Should the move continue, the zone for trading would be between the upper band and EMA5. This is a narrow trading field, but less risky and the upside potential is huge.
Potential upside targets are $88.00, followed by $89.00.
The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.