Long Brent @ 45.72/44.54 tgt 48.30/50.50 (CBV2016) Crude Oil Brent ICEEUR:CBV2016 aleIas Possibly the price has reached its Daily Cycle Low on Friday, July 22. Expecting rebound to 50.50 in the first decade of August. ------------------- First buy limit activated @ 45.72 (DMA200) Another buy limit @ 44.54 (162% fibo of wave C of W formation / major weekly support) ------------------- Rationale: MA200 reached (Daily close confirmation) Diagonal triangle formed, Bearish wave likely completed (Weak) Bullish Price/Oscillator Divergence + buy area reached (based on previous DCLs) Daily Sentiment Index @ 35% bulls Expected DCL on July 21-26 ------------------------------- Daily close below 44.00 next week invalidates this idea. First warning sign if daily close is below DMA200 or 46.90 resistance stands. ------------------------------- Safe trades!