UKOil (Crude) Short. Short

BRENT CRUDE OILTVC

Description

⋅ Nov 24, 2016 6:12 PM

Oil has entered a period of consolidation following a rejection of the 50$ level. Long upper wicks suggest a lack of buying power at this level. I'm looking for a break below the localised wedge (clear on the H1) to confirm downside bias.