RudiMarin

UKoil selling the bounces favoured

Short
RudiMarin Updated   
TVC:UKOIL   CFDs on Brent Crude Oil
on a short term (4H) chart, the Brent is in a rising wedge which is a bearish pattern. The longer term trend is still downward and I see no reason for the path of least resistance to change.

Comment:
The daily pattern still looks very much corrective

Comment:
Finally here is the weekly view. Price could still retest the top of the daily wedge near 60 but any bounce remains a short opportunity to target a final lower low.


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