Brent Oil has reacted to a support area making an engulfing candle on D timeframe and it is supported by an ascending trendline.
MACD confirms that it is gaining strength and it could easily reach the 67.5 area where both resistance and the descending trendline since April confluence.
Trade safe!
MACD confirms that it is gaining strength and it could easily reach the 67.5 area where both resistance and the descending trendline since April confluence.
Trade safe!
Comment:
Very choppy action but still holding. It looks like a breakout is about to happen.
Looks like an ascending triangle is forming against a not so strong area of resistance.
It is also following an ascending channel and I will hold until this channel is broken to the downside.
Trade is choppy and not as clean as we would like it to be but still according to plan
Looks like an ascending triangle is forming against a not so strong area of resistance.
It is also following an ascending channel and I will hold until this channel is broken to the downside.
Trade is choppy and not as clean as we would like it to be but still according to plan
Comment:
Opened 0.27 higher. Breakout confirmed. Will it be a real breakout or a fakeout? That remains to be seen
Comment:
Big bullish move. Nearing the TP profit
Trade closed: target reached:
Perfect!
Looks like Brent Crude Oil has found resistance with the 50 and 200 MA on 4H chart and might be reversing back to the downside.
As long as the 'red' trendline is not broken my trade is still active. As soon as it closes below it I will bail out and wait for better opportunities