TheStudent
Long

BCO HS formation completing - Await confirmation!

OANDA:BCOUSD   Brent Crude Oil
There is a head shoulder formation about to complete on the 4h chart. Very powerful and momentum is confirming the strong move we expect.

After a long downturn, oil             is fundamentally expected to rally again into the new year. Expecting price at USD 65 by Christmas.

Nice long term trade. Big, slow movement, so no need to risk your entire account on this. Great risk reward at 7.58 if entry at USD54.2 and target at USD76.2 for a full HS completion (42% from entry).
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