Look at this price action on Brent. On the daily it is visible that the price is close to the 38.2 Fibonacci retrace and XA=BC. The PRZ (potential reversal zone) could be between 70 and $72, buuuut... look at the 240 min chart. Perfect Rising Wedge with a very interesting divergence on the MACD. And we should add the fact that $70 is actually an 127.2 expansion of XA.
Even though all these signals are bearish, I would still wait for a breakout below the trend line before selling. But even if the price will continue to rise, I think that $60 will be retested before breaking above $72, what do you think?
Even though all these signals are bearish, I would still wait for a breakout below the trend line before selling. But even if the price will continue to rise, I think that $60 will be retested before breaking above $72, what do you think?
