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$.We are for the last three monts facing the mid term change of trend with the above mentioned targets.First target accomplished.
SHORT TERM: As correctly described in last analysis:”We can try going long at the upwards break of 77.00$ aiming 81.00$.Stop loss at 75.00$.Oil is moving upwards,we change the target point to 84.50$”.Target accomplished,profits of 7.50$ received.We can re enter long at the upwards break of 86.00$ aiming 91.00$.Stop loss at 84.80$.
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