theselfishtrader

Brent - Bullish Trend Continuation Opportunity?

Long
TVC:UKOIL   CFDs on Brent Crude Oil
Price has generally been consolidating and recently broke out to new highs, before falling back into the range.
Support around the $54.60 - $55 dollar range is holding. This area looks reasonably strong, and has confluence with the 61.8% Fibonacci level.
With an inside bar forming at support, a breakout trade is on the cards.
As we are still in an uptrend, I am favouring a move higher.