Our last brent oil forecast was in August where we expected a long entry zone for crude oil at around $65 – “in October”. Unfortunately the zone was hit later in August and killed off the “timing” of our projection.
We are now in a position to make a new forecast which will hopefully hit both the levels and the timing.
We believe brent is nearing a top which could last for several months – certainly for the remainder of the year. This could give the opportunity for a short with tight stops and a very good risk/ reward ratio. If we are correct then this is likely to lead to a long term bottom with another opportunity to go long.
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