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theselfishtrader
Jan 11, 2017 11:08 PM

BRENT - Long Opportunity Long

BRENT CRUDE OILTVC

Description

A huge bullish candle on 4H suggests strength in this market.
The small bearish candle is probably profit taking and consolidation. If price should break above this candle I will be taking a long position and targeting the top of the range around the $57.40 area.
A more conservative target is the $56 level which has confluence with the 61.8% Fibonacci level.
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