Brent has reached the 1.618 fibo extension from lows in Oct 2017 to highs in Nov 2017, after retracing back to the 0.618 fibo. Next move should take price to the new fibo, matching the mid term bullish trendline. 67 usd/bbl during next week, prior to bouncing back and go to 76.8 usd/bbl level in the coming months.
Trade closed: target reached