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theselfishtrader
Jul 3, 2019 10:41 PM

Break and retest? Possible Short trade idea Short

BRENT CRUDE OILTVC

Description

Price has recently broken out of consolidation to the downside.
Price has now retraced to retest former support, which I anticipate acting as resistance. There is confluence with the 38.2 fib and the 20EMA.

~1:1 RR for conservative targets at $62 - 62.20s
Full extension of the move could see a retest of the lows from 12/06 around the 59.40s
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