FXCM

BCOUSD Potential for Bullish Rise | 8th August 2022

OANDA:BCOUSD   Brent Crude Oil
n the H4, with price touching the bond of descending trendline, and the DIF line is breaking the signal line in MACD , we are bullish bias that price will rise from our buy entry at 99.037, which is in line with the pullback support to our take profit at 102.467, where the pullback support and 38.2% fibonacci retracement are. Alternatively, the price may drop to the stop loss at 95.639, which is in line with the swing low.

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