zhipengcfel
Short

Potential reverse zond for brent oil

FX:UKOIL   Crude Oil (Brent)
Brent oil             forms a similar structure with CLM2016             (us oil             contract at June):
Potential reverse zone for oil

1) Retrace 0.618 of last bearish wave and came to a big resistance zone
2) A wedge pattern forms for the retrace;
3) A butterfly harmonic pattern was completed;
4) A divergence was shown on the indicator;

It is a nice selling setup with SL at around 44             .1 and TP at around 40.6;

Note: If the price breaks out of the resistance zone , this analysis will be invalid.

Good luck for everyone!
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
中国
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out