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AntMwah

Break of 200DMA rejected, backtest of breakout in progress

CFDs on Brent Crude Oil (TVC:UKOIL)  
AntMwah  
TVC:UKOIL   CFDs on Brent Crude Oil
Trend Analysis
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trendanalysis
This has rejected the break of the 200DMA after finally moving out of the channel highlighted by the pitchfork. We are now looking at retesting the channel breakout at around $51. I'd stay neutral until then and look at longs or shorts depending on the direction indicated thereafter.
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