LewisGlasgow
Short

Brent Oil - Bearish Shark (Trend Continuation)

TVC:UKOIL   Brent Crude Oil
We're looking at UKOIL             on a 1h chart, this is an excellent shorting opportunity to continue the long term trend... Don't miss out on this one!

As you can see from the daily chart below we have been trading within a sideways channel since early 2016, price has approached a key level of resistance and is starting to stall out.

snapshot


The measurements for a valid shark are detailed below.
C: 1.13 - 1.618
D: 1.618 - 2.24
Final X to D: 0.886 - 1.13
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snapshot


Thanks for giving me confidence :)
+1 Reply
@SanguPanga, you're welcome. I've now updated the idea with direction on the daily timeframe :)
+1 Reply
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