theselfishtrader

Brent Crude - On the verge of a new bullish phase?

Long
TVC:UKOIL   CFDs on Brent Crude Oil
Price has been consolidating/ranging between $58 - $53.
Following recent tests of support levels around $54, price has formed a morning star candlestick pattern on the daily chart .
Although this pattern is not at the end of a trend, price could see some bullish follow through in the next couple of days.
I will be looking to get long on any pullbacks intraday, targeting recent highs around $56.90 and then the top of the range at $58.35
Trade active: Entered a long position at $54.80.
Trade closed manually: Stopped out on trail stop for +76

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