davesp1903
Short

Bear Trend Projections for USDBRO

FX_IDC:USDBRO   U.S. DOLLAR / BRENT CRUDE OIL
In two of my previous ideas, I have called for a drop in Oil             . The first level came at 52, and with the break of that, a far more decisive level came at 53.0

Oil             has refused to close above 53.0. We had a massive bearish candle on the daily, and now the price rockets down.

I believe this is the beginning of a bearish trend . If I am correct, and this top presents to be a major turn, then I expect the price to decline at least to 49.40- 48.70 zone.

From there, we can evaluate our position, as the structure of the downtrend will give us a clue as to the way the market takes shape.
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