Brent Crude
#BRN
EU countries plan to postpone the Russian oil price cap amid controversy. Analysts at JPMorgan are confident that the price of Brent oil will reach $101 a barrel in the 4th quarter of this year.
The descending wave structure is truncated. The Awesome Oscillator indicator shows bullish …
The descending wave structures are truncated. Awesome Oscillator indicator shows bullish divergence, and Stochastic Oscillator indicator signals oversold.
Trade Idea:
Buy on the formation of an ascending wave structure where wave (A) breaks the inclined channel of the descending truncated structure.
Stop Loss: 1.1211.
Target levels: 1.1300; 1.1350.
The ascending truncated wave structure ended with the breakdown of the inclined channel. The Awesome Oscillator indicator shows a bearish divergence, and the Stochastic Oscillator moving averages are out of the overbought zone. The stock is trading in the 365 and 135 moving averages range.
Trading idea:
Sell on a …
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