Genghis
Long

Brent Crude Oil.. have we topped?

FX:UKOIL   CFDs on Crude Oil (Brent)
While most folks are calling this the top we could be due one more leg higher.
As part of the wedge set up last Friday we ran up and bounced between 1.618 and 2.618 levels. Interested to see how price reacts around 0.5. We could see a rally at least back up to the broken trend line or beyond.

If we break below 47.20 I'm joining the bear camp.
Trade active: Long at 47.72, SL 47.17
Comment: SL moved to entry
Comment: Didn't trade my system and messed with SL. Paid the price as stopped at flat and rallies in my face.
Comment: There goes $50 !
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Has started well. Likely will have to creep SL along side any subsequent rally as she is a volatile beast.
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Didn't trade my system and messed with SL. Paid the price as stopped at flat and rallies in my face.
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Robust set up for a long quickly approaching.
- Into 0.5 fib retracement of recent range
- Potential support at April's high of 48.23
- Bull trend line support (thick black line)
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WTI
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