After a Brexit referendum outcome the Commerzbank analytics told us to "forget about oil at 50". Don´t think this is correct although they are right in one thing: oil should retrace more.
A level of 43.50 looke pretty strong to be a target for the retracement but the price can also test 41.49 level. Any weekly close below that would mean a new travel to the 30s.
Will wait to Monday´s opening to see how the price opens and then take a decision on an entry point
Trade active
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Short since 47.85 and added more on 46.69. First level to watch: 45.37
Comment
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More selling confirmation on a chart below: descending triangle pattern, targeting 44 and also a small correction which is a trend continuation pattern, shown with parallel brown lines
Trade closed manually
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All shorts closed for now. Checking new entry points both for longs and shorts