Brent oil – bulls need a symmetrical triangle breakout
Brent’s rebound from yesterday’s low of $45.88 and move higher on the back of bullish inventory report if results in a bullish break from symmetrical triangle formation on the hourly chart would yield a fresh rally to $48.44 levels.
On the flip side, failure to see a bullish break would once result in a sideways to choppy trading.
On the lower side, only a day end closing below falling wedge support would suggest the retreat from June high has resumed.
On the flip side, failure to see a bullish break would once result in a sideways to choppy trading.
On the lower side, only a day end closing below falling wedge support would suggest the retreat from June high has resumed.
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