With both the daily and monthly uptrend lines holding and key support at USD 52.00-52.50 also holding, Clive is looking to buy Brent Crude (May ’15) on a move above USD 56.50-57.00 with targets at 59.50 and 62.50.

 

Clive has an initial stop at 55.50, but highlights that even with a stop at 100 ticks, the trade can be choppy and is also at risk with continued dollar strength potentially weighing.