amanpaulbhogal
Short

Selling Brent Crude

FX:UKOIL   Crude Oil (Brent)
Crude oil             has shown a promising downtrend respecting key levels where it's seen to be giving beautiful entries on its visibly apparent journey south. Currently, a high test close rejecting 99.60 after a pullback presents another such entry with a target area aimed at 88.50. 99.60 is within close proximity to the 38.2% Fibonacci retracement level. Today's high test close is well below both these levels and is seemingly prepared to continue trending short.

A potential hick up to this short trade is bullish divergence on both the Stochastic and RSI . Other than that, price action seems to dictate a healthy trend continuation move with a hulking potential ninefold reward:risk profile.

entry - below today's high test close
stop - above today's high test close
target - ~88.50
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out