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Analyst Thoughts: Brent Medium-Term

  • Writer: Peet Serfontein
    Peet Serfontein
  • Apr 25, 2024
  • 1 min read

THE VIEW IS ADJUSTED FOR AN EXTENDED BULLISH PHASE


  • General: The previously expected bull phase off S1 has reached and extended beyond the ST target.

  • The illustrated view is for moderately further upside within the PQ channel to P/R1.

  • The XYZ downside off R1/R2* to the S0 target area will remain part of the larger consolidation as defined by R2* and S2*.

  • The blue highlighted areas indicate high probability medium-term reversal areas as the ranging and bottoming formation continues to develop.

  • A large bull trend is only a distant probability. Levels: R2* and S2*. A break of Q will activate the XYZ downside.

  • Conviction: Medium






 
 
 

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