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T3-Consultancy

BRTUSD H4: Bullish outlook seen, further upside above 75.50

Long
Brent Oil (BRT) / US Dollar (EASYMARKETS:BRTUSD)  
T3-Consultancy  
EASYMARKETS:BRTUSD   Brent Oil (BRT) / US Dollar
Trend Analysis Harmonic Patterns Chart Patterns DJ FXCM Index BRTUSD brtusdbullish brtusdlong Forex forexsignals forextrading
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Price is hovering above a key support zone of 75.50 on the H4 timeframe. A throwback to this zone, which is in line with the 78.6% Fibonacci retracement, could present the opportunity to ride the bounce to the resistance zone at 77.50, which coincides with the 61.8% Fibonacci extension level. Price is holding above the Ichimoku cloud and Stochastic RSI is in the oversold region below 20, supporting our bullish bias.
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