BULL SIGNAL FOR BRENT CRUDE OIL | ENTER @ 63 - TP1 @ 66.5 - TP2 @ 71 | 18 SEPT 2019 - FORECAST/PREDICTION

SUPPORTING TECHNICAL ANALYSIS:

ANALYSIS BASED ON PHILIP PANKAJ:

PRICE PENNANT AND NEUROWAVE SCALPER PENNANT SHOWS BULLISH CONVERGENCE WITH A BULLISH BREAKOUT ON BOTH DATA.

TARGETS ARE CALCULATED BASED ON FIBONACCI LEVELS.

FROM 1990 TO 2019,ROC OF DAILY PRICE HAPPENED ON 16 SEPT 2019 IS 14.6 % WHICH IS EXTREMELY RARE AND A BULLISH BREAKOUT,NOW THE PRICE IS RETRACING THE BREAKOUT LEVEL.

SUPPORTING FUNDAMENTAL ANALYSIS:

SAUDI ARABIA OIL DRONE ATTACK WHICH INDEED CAUSED ARAMCO TO CUT OIL SUPPLY BY 50%,THUS CREATED DEMAND FOR OIL.