EWS
Long

Brent Crude Oil - Headed for 70.03 as the next major target

TVC:UKOIL   CFDs on Brent Crude Oil
Brent Crude Oil continues to follow the expected path higher and the firm break above resistance at 58.35 and confirms a continuation higher towards the next major target seen at 70.03, where wave (C) or (3) will be equal in length to wave (A) or (1).

A clear break above 70.03 will add confidence in the rally from 27.00 being impulsive and call for even more upside towards 86.00, which also happens to be close to the inverted S/H/S bottom target.

For now stay focused towards the upside and the 70.03 target.

Comments

50.00 target
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