Does Brent Oil price has the potential to move up?
As you can see in the chart drawing, after completed the Inverse of Head and Shoulder pattern,the oil price rallying up.
For now, its still fluctuating at its previous resistance line that it make back in 2015.
If the price breakout and stay above $70, it has high chance for the price to move up in a rapid movement in the future. But if its stay below $70, it has chance to make some correction before moving up again.
In EW analysis, it possibly currently at the 3rd wave of Impulse Wave.
#tradewhatcharttellingyou
For now, its still fluctuating at its previous resistance line that it make back in 2015.
If the price breakout and stay above $70, it has high chance for the price to move up in a rapid movement in the future. But if its stay below $70, it has chance to make some correction before moving up again.
In EW analysis, it possibly currently at the 3rd wave of Impulse Wave.
#tradewhatcharttellingyou