BRENT CRUDE OIL(USOIL): TOO HARD TO DIE?
LONG TERM: The 12 years weekness of oil remains with extremes like the one we witnnessed in March.Long term trend remains bearish unless the 62$ level will upside broken,then trend will be changed aiming 75$ and 110$.We are for the last three monts facing the mid term change of trend with the above mentioned targets.First target accomplished.
SHORT TERM: We stay on our point as described in previous analysis:”We can retry going long at the upwards break of 77.00$ aiming 92.00$.Stop loss at 74.00$”.We can change the stop loss at 80.50$.We can also increase long positions at the upwards break of 86.00$ with the same target and the same stop loss at 80.50$.Positions still alive,going higher.
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