Brent Crude Oil recently reversed up from 50% Fibonacci Correction of the previous sharp minor impulse (i) from the start of April. The upward reversal from this support level completes the previous minor corrective wave (ii).
Brent Crude Oil is expected to rise further to the next buy target at 111.00 inside the currently active minor impulse wave (iii) belonging to the longer-term impulse wave 3 from last month. To reach this target, Brent Crude Oil will need to break the upper resistance trend-lines of the daily Triangle from March and of the daily Down Channel from December.
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