Market SituationWe expected another correctional move on BZ (Brent Oil) for wave (f) of a diametric pattern. However, the retracement and reaction we got turns us market has other plans.
OutlookCurrently price seems to have formed bullish form due to news of war escalating again in middle east under an (abc) pattern and CAN even reach previous highs once wave (c) kicks in.
Key LevelOur short positions are currently risk free with no loss. So make sure to bring stoploss to entry. And if you want to turn bullish under this update, keep in mind that price may retrace even to the bottom of the box before bullish wave start so plan accordingly.
