Brent Crude Futures
Long

Brent Crude Targets $156

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It is amazing how different approaches give same projection
Month ago, I shared with you the Bull Flag pattern on this very same chart

Brent Crude Update: Bull Flag Targets $152


This time, I spotted the EW Triangular consolidation (yellow) in wave B
as part of ABC pattern, which targets the same area above $150 as Bull Flag does

All requirements for triangles have been met, ABCDE sequence looks completed
Wave B (Triangle) retraced exactly to 38.2% Fibonacci level and then bounced up

Bullish confirmation is set above the triangle on the breakout of peak of wave D beyond $115
Wave C could hit $156 mark if its size would be the same as wave A
Invalidation is set at the bottom of wave e of Triangle below $96

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