Brent Crude is just a few cents away to hitting 29/30 resistance and potential Wave 3 termination. The commodity has been moving in line with expectations until now and if the counts are correct, we should see a drop towards 25 levels as Wave 4 prepares to unfold. As a general guideline, 4th waves tend to drift around fibonacci 0.382 retracement of the 3rd wave, which is close to 25. Once the corrective drop is complete, Brent should proceed towards 33/34 levels as Wave 5 progresses. Ideally, prices are expected to break above 36 mark, to confirm a long term bullish reversal ahead.
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.