Trading Idea - Brent Crude, 01-03-2024 | IFCM
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Trading Idea - Brent Crude, 01-03-2024

Trading Idea - Brent Crude, 01-03-2024

Trading Signal: #C-BRENT

OrderBuy
DirectionBullish
PatternFlag pattern breakout
Interval1 hour
Length (Candles)4

Idea Summary


The medium term BRENT price forecast is bullish. The BRENT price has broken out of a flag chart pattern above the 200-period moving average MA(200). Most likely the price will continue rising while there is a likelihood it may reverse and return back into the channel of the flag pattern.

Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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