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 truncated bearish wave structure has completed with a breakout of the descending channel. The Awesome Oscillator shows bullish divergence. A breakout above 68.27 will confirm the formation of a bullish wave structure.

Trading idea:

Buy on a breakout above 68.27.

Stop Loss – 67.07.

Target levels – 69.50; 70.70.