Is BRENT forming a long-term bull trend?
I still insist on the idea that Brent is forming a long-term bull trend.
Let's see the weekly bar, please notice that $43 is still a quite low price in this whole century. In the short term, the price may fluctuate or hesitate. But in the long term, it is highly possible that the economy will recover progressively (even the process might be very slow).
In this chart, it is possible that Brent is forming a blue flag (or an ascending triangle). Filling the gap below $46 would be the first step for Brent. personally I have enough confidence to believe that Brent would rise back to $60 before 2021.
Let's see the weekly bar, please notice that $43 is still a quite low price in this whole century. In the short term, the price may fluctuate or hesitate. But in the long term, it is highly possible that the economy will recover progressively (even the process might be very slow).
In this chart, it is possible that Brent is forming a blue flag (or an ascending triangle). Filling the gap below $46 would be the first step for Brent. personally I have enough confidence to believe that Brent would rise back to $60 before 2021.