BRENT OIL top-down analysis
on DAILY: BRENT OIL is approaching a strong resistance and GAP zone so we will be looking for objective sell setups on lower timeframes.
on H1: OIL is currently trading inside our orange channel, so we are waiting for a new swing to form around our lower orange trendline to consider it objective and enter on its break downward.
we also have a regular bearish divergence on MACD.
meanwhile, as usual, BRENT OIL would be overall bullish until an objective sell setup is activated.
on H1: OIL is currently trading inside our orange channel, so we are waiting for a new swing to form around our lower orange trendline to consider it objective and enter on its break downward.
we also have a regular bearish divergence on MACD.
meanwhile, as usual, BRENT OIL would be overall bullish until an objective sell setup is activated.
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