BRENT OIL - Getting Slippery Soon!

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on WEEKLY (left): BRENT OIL is sitting around a strong supply area in green and outer brown trendline so we will be looking for trend-following sell setups on lower timeframes. (red projection)

Unless BRENT OIL breaks this decision area aggressively upward, then we will be looking for buy setups on the retest. (blue projection)

on H4 (right): BRENT OIL formed a symmetrical triangle in gray and we all know that this is a bilateral pattern (means it can break either side) but since it is sitting around a supply zone as shown from Weekly, the downward break is preferable.

Trigger => Waiting for a momentum candle close below the lower gray area to sell. (projection in red)

And for the trend-following buy setup, we will need to wait for that third swing high to form around the upper gray trendline, to consider it valid and buy on its break upward (not recommended for conservative traders)

Good luck!

~Rich