You would be well advised to confirm the breakout that has just occurred – do you believe the move through resistance to be significant? Do you have confirming indicators that the price momentum will continue? If so, look for a target of 22.9866 but consider reducing the size of your position as the price gets closer to that target.
Related Posts
If you’re long Brent Crude you should be aware that 78.1340 has just been breached – a level tested 3 time in the past
Brent Crude is once again retesting a key horizontal support level at 78.1340. It has tested this level…
A Ascending Triangle has formed, Brent Crude is approaching support. Can we expect a breakout and the start of a new trend or a reversal?
Brent Crude is moving towards a resistance line which it has tested numerous times in the past. We…
Brent Crude breakout from a Pennant trade setup. Will it continue this trend to hit the target price?
Brent Crude moved through the support line of a Pennant at 77.09933333333333 on the 4 hour chart. This…