Brent Crude Oil recently broke sharply above the buy target 112.00 that was set in our earlier forecast for this instrument. The breakout of this resistance level coincided with the breakout of the long-term resistance trendline from February of 2012.
This double breakout accelerated the latest minor impulse wave 3 from the start of June – helping it break above the next strong resistance level 112.80 (which earlier reversed Brent Crude Oil down twice in December of 2013).Brent Crude Oil is set to rise further to the next buy target at 116.00.
The post HY MARKETS News: Commodities Report:Brent Crude Oil appeared first on | HY Markets Official blog.