Hi traders,
Brent crude continued its bull run as countries around the world ease lockdown restrictions and shows signs of economic recovery.
Oil is trading in a strong uptrend, with a break above $42 signaling further upside potential and the formation of a new impulsive move.
The recent pullbacks on the 1-hour chart also provided buying opportunities. A fall to $39 (the lower channel support) could provide a very nice long entry with an attractive reward-to-risk ratio as well.
Brent crude continued its bull run as countries around the world ease lockdown restrictions and shows signs of economic recovery.
Oil is trading in a strong uptrend, with a break above $42 signaling further upside potential and the formation of a new impulsive move.
The recent pullbacks on the 1-hour chart also provided buying opportunities. A fall to $39 (the lower channel support) could provide a very nice long entry with an attractive reward-to-risk ratio as well.
