Brent Crude remains bullish as it terminated Wave 2, just ahead of 18.48 as highlighted in our previous discussions. The commodity is seen to be trading around 26.38 levels as we write this article and it is just a matter of time before bulls take out 29.00/30.00 resistance, Wave 3 on the chart here. Thereafter, we can expect a corrective drop as Wave 4, before the 5th Wave rally resumes towards 36.00 levels. As a guideline of alternation, Wave 4 could be a triangle or an expanded flat. Structure remains bullish until 15.00 levels holds.
Strategy:
Long against 15.00, targeting 36.00.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Strategy:
Long against 15.00, targeting 36.00.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.