• Brent Crude Oil rising inside impulse wave 3
• Further gains are likely
Brent Crude Oil has been rising steadily in the last few trading sessions inside the active short-term impulse wave 3, which started earlier from the strong support area lying between the key support level 73.53, lower daily Bollinger Band and lower trendline of the daily down channel from May.
The price previously broke the aforementioned daily down channel – which accelerated the active short-term impulse wave 3 – which is a part of the medium-term impulse wave (3) from February.
Brent Crude Oil is likely to rise further and re-test the next powerful resistance level 80.00 (which stopped the sharp uptrend in May).