Brent had a long and good bullish run but the trend reversed. All the turmoil that drove the price up has passed.
(bear in mind OIL prices can be changed in a minute with one Trump tweet).
Consider the analysis: Trendline has already been broken and we're dancing around 0.5 FIB level.
Bearish trend is freshly formed and I would keep my short position for about 10...
Buyers tried to break 0.618 Fib. (H4 chart) but failed 2 times.
Trend was on a good run but buyers are losing health and momentum.
We can see lower highs and lower lows forming.
MACD and RSI are in higher levels indicating there's a lot of room
to close long positions.
Let me know what you guys think, this is my first analysis :)
