Brent Crude Oil long trade if 50% Fib support holds.

14 Nov 2018

The move down from the 3rd of October high is currently at the 50% retracement level of the entire move up from the 21st of July low. Should this level hold and we see prices push higher the 32.8% retracement of the move down from the 3rd of October high would be at $74.4. This would be my upside target. Stochastic is in oversold territory and has been for some time, we should see this starting move up soon indicating momentum is shifting to the upside.