Brent crude oil fell after touching retracement of 113. This is the first signal if the chances of this pattern will form a "cypher". but still very risky if open short positions now because still live in an uptrend. the right time to open a short position is when the price broke below the . if using the current price, you can set the target price range of 49.54 to 47.80. stop loss if prices return to channel.