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- Widening Triangle in Brent Crude Signals Good Buy Opportunities
Widening Triangle in Brent Crude Signals Good Buy Opportunities
A nice buy opportunity has emerged in Brent crude today. The idea is very simple. Prices have widened the symmetrical triangle they are locked in, with a likely exit from it by the end of next week. So, prices have one more opportunity to go up from $86.00-87.00 per barrel before exiting the triangle. A target for this upside is likely at the upper margin of the triangle at $90.00-91.00. This very small target could be easily reached. The stop-loss should be set quite far – at $83.50 to avoid unforeseen losses.
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