Wach out for this false break out on SAPBearish divergence on the OBV indicator and we have stuck right at a major resistance area shows we probably will pull back
False_breakout
Short EOD trade on Brent Crude at the $50 psychological levelPlease see annotated chart for details.
False Break-outAs it was the case for AUDUSD, this pair consolidated in an ascending triangle for quite some time.
However, anasty false breakouts of this triangle signal more weakness ahead.
Trend strength increasing, False break/ABCDPotential false break above 127.000. Sellers quickly managed to push price back below the level.
The bearish trend seems to increase in strength and looking at the measured move objective we could get a substancial bearish move if the false break manifests.
I would only look to short around 127.000 if we see a weak pullback into the level. If the move into the level is strong and impulsive the buyers may be making a new attempt to break through the level.
