Possible Short on Brent
Updated
Please see the chart, We currently are seeing a retracement with the GAP being filled. We may possibly have an opportunity to short Brent between 44.50 - 45.50 with stops above 50.50 and targets at 37.50. For this trade to be confirmed we will need to see RSI divergence at the completion of the fifth wave.
Note
UKOIL has seen resistance at 43.00 - 43.5. This validates a possible sell-off. Look for short entry between 43.00 - 43.50 with stops at 45.00 - 47.00 and targets at 37.00 -35.00.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.