Oil rise setup - A road to the previous resistance 77.200?
Updated
Oil has been on a Bullish trend since December 2018 with a set of consolidation areas where big players load orders. The consolidation area has formed between 64.800 and 63.800 and is lasting now 2 weeks.
Wait for an upward breakout of the 64.800 level to BUY.
Setup :
BUY after a breakout @ 64.800.
Stop Loss @62.300
Take Profit @66.200
Technical :
Upper consolidation area : 67.000 - 65.800
Current consolidation area : 64.800 - 63.800
Lower consolidation area : 62.800 - 61.800.
Sentiment : Bullish
Wait for an upward breakout of the 64.800 level to BUY.
Setup :
BUY after a breakout @ 64.800.
Stop Loss @62.300
Take Profit @66.200
Technical :
Upper consolidation area : 67.000 - 65.800
Current consolidation area : 64.800 - 63.800
Lower consolidation area : 62.800 - 61.800.
Sentiment : Bullish
Trade closed: target reached
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