mpd

Brent mid term view

Short
TVC:UKOIL   CFDs on Brent Crude Oil
On the monthly chart I expect the 5th bearish wave , I think that the september monthly candle is not a reverse candle unless it closes around 38$ but I don't think it will happen because SPX is rebounding and DXY could make a correction;

A reverse monthly candle usually looks like a pin bar or something similar with upper shadow so I expect a retest of the 46/47$ area in the last days of september and a reverse monthly candle forming in october
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