![BULL SIGNAL FOR BRENT CRUDE OIL | ENTER @ 63 - TP1 @ 66.5 - TP2 @ 71 | 18 SEPT 2019 - FORECAST/PREDICTION BULL SIGNAL FOR BRENT CRUDE OIL | ENTER @ 63 - TP1 @ 66.5 - TP2 @ 71 | 18 SEPT 2019 - FORECAST/PREDICTION](https://c.mql5.com/6/842/splash-729780.png)
BULL SIGNAL FOR BRENT CRUDE OIL | ENTER @ 63 - TP1 @ 66.5 - TP2 @ 71 | 18 SEPT 2019 - FORECAST/PREDICTION
18 September 2019, 09:25
![Philip Pankaj Suthagar Philip Pankaj Suthagar](https://c.mql5.com/avatar/2023/5/64766cba-18f0.jpg)
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SUPPORTING TECHNICAL ANALYSIS:
ANALYSIS BASED ON PHILIP PANKAJ:
PRICE PENNANT AND NEUROWAVE SCALPER PENNANT SHOWS BULLISH CONVERGENCE WITH A BULLISH BREAKOUT ON BOTH DATA.
TARGETS ARE CALCULATED BASED ON FIBONACCI LEVELS.
FROM 1990 TO 2019,ROC OF DAILY PRICE HAPPENED ON 16 SEPT 2019 IS 14.6 % WHICH IS EXTREMELY RARE AND A BULLISH BREAKOUT,NOW THE PRICE IS RETRACING THE BREAKOUT LEVEL.
SUPPORTING FUNDAMENTAL ANALYSIS:
SAUDI ARABIA OIL DRONE ATTACK WHICH INDEED CAUSED ARAMCO TO CUT OIL SUPPLY BY 50%,THUS CREATED DEMAND FOR OIL.