Analyst thoughts: Brent Long-Term
VIEW RETAINED: W,X,Y BULL PHASE
The general outlook of a bull phase off Z to T1 and T2* is materialising. The lower case letters quantify recent price action with capital letters being the forward prediction.
A medium-term W,X,Y bull phase is expected to reach the highlighted T1/T2* target area, followed by medium-term ABC downside to S0*.
The current consolidation between R1 and S0* is potentially a consolidation (X) within the larger upside.
The important negation level for the bullish potential is at S0*.
Breaking above R1 will activate upside to T1.
Medium conviction view.