SIGNAL TERMINATED – BRENT OIL LONG – TAKE PROFIT
Brent oil has reached the border of the first resistance line, along which a correction wave could come. However, this situation may not occur and the market may continue to strengthen as originally expected. The current step is only a step of certainty.
ORIGINAL TEXT: Brent Oil Long. Both Brent and Light Crude oil began to lose value at a slow rate after a slight increase in stocks. Currently, Brent is approaching a support level of 40 USD / Barrel for a futures contract. Technically and fundamentally, the market cannot break out of its zone in which it has been operating since the beginning of June. This range is worth about $ 8 per barrel. Which, with a volume of 1,000 barrels, the exchange rate potential is $ 8,000.
Graph source: WebTrader