Brent - D1\H4Oil Brent
D1 - The price has formed a triangular formation, which may mean that if it fixes beyond the lower line of the triangle border, the price may continue to fall further along the trend and further reduce the price to the levels of 70.19
When fixing behind the upper trend line, the price may reverse and begin to rise, since a 3-wave structure may already be formed for the targets; in this case, we will see the price of 89.21.
H4 - For purchases, it is better to wait for fixation behind the trend line; you can also try to open at the current price with minimal risk per transaction from the lower border of the triangle. If there is a fixation, turn into sales.
What to expect now?
Waiting for the level of 82.07 to be broken/fixed and an upward movement towards the nearest targets of 89.21.
When opening a position, it is best to exit the position from the level of 78.93 - 78.23, if this scenario does not materialize.
When fixing behind the lower line 78.95 - 78.15, the idea is canceled when a 3-wave structure is formed in the opposite direction 89.95 - 82.87.
Long
Targets 83.01 - 84.31 - 86.68 - 89.21
Short
Targets 76.47 - 75.24 - 72.63 - 70.19
