Trade Plan for Brent Crude (#BRN)

Brent Crude

#BRN

     The trend is bullish. Oil is trading within the range of the 365 and 135 EMAs. The downward truncated wave structure has ended with a breakout of the descending channel. The Awesome Oscillator shows bullish divergence. A breakout above 66.54 will confirm the formation of an upward wave structure.

Trading idea:

Buy on a breakout above 66.54.

Stop Loss – 65.86.

Target levels – 67.50; 70.50.