In the middle of nowhere
Updated
The Brent seems to have left it's uptrend broadening wedge pattern to the downside. Will Brent settle in a 60 to 70 USD Range?
Note
Back in the wedge. Will the almost certain retest of the 70s succeed?Note
Retest ongoing. This week might be interesting...Note
Retest unsuccessful. The upper limit is confirmed. 60-70 USD range confirmed. But maybe the small 68 to 71 USD wedge confirms too. It will be left in May latest...Note
Next stop 65.50 USD...Note
...well finally it was 67 USD was the end of last week. Here we go again towards the 70+ USD resistance...
Note
Rockets over Syria... Brent pierced through that resistance. Will that be all or is Brent now at a higher level?Note
The resistance is broken. If in 3-4 weeks it is still in the 70s or higher then I declare the range broken... and I would expect mid/long term prices back in the 100s...Note
Retest of the support (former resistance) line expected around the 17.5.2018.If it holds then I consider a bullish scenario for a climb to the 100 USD area engaged.
Trade closed manually
As of now I consider the trend as broken. Trading suggestion: an eventual pull-back to 73 USD would offer a good entry point for a long position.
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