Technical take on Brent Crude
Over the past several months, a strong upward channel has formed on Brent, underpinned by the 10 wMA, offering good support on the pullbacks with the market continuing to put in higher highs and higher lows. If this price range continues we could see a small pullback, consolidation around the $69/$70/bbl in favour of a bullish continuation towards $80.00/bbl.
Trade: Brent Crude
- Entry Long (Buy): $70.00/bbl
- Stop Loss: $67.05/bbl
- TP1: $72.00/bbl
- TP2: $74.70/bbl
Always remember to apply your risk management measures before placing your trades as this will keep you trading in the markets.
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