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. A truncated bearish wave structure has formed. The Awesome Oscillator shows bullish divergence, while the Stochastic Oscillator signals oversold conditions.

Trading idea:

Buy on the formation of a bullish wave structure, where wave (A) breaks above 68.04 (pivot of wave 2 of C).

Stop Loss – 66.94.

Target levels – 69.16; 70.70.