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theselfishtrader
Jun 30, 2020 9:25 PM

Bullish breakout setting up Long

BRENT CRUDE OILTVC

Description

Price has consolidated, forming an Ascending Triangle.

As Price is above the 200EMA, I anticipate a breakout to the upside and will seek confirmation of the breakout with a close above $42 (orange line).

Target #1: ~$45 (Closing the gap down from 6th March lows)
Target #2: $50 (Confluence zone of 61.8% from Jan highs + 127% fib extension from April lows) [THIS NEEDS MOMENTUM CATALYST]
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