On the H4 timeframe we can clearly see a reversal candles. When you view it from the Daily timeframe you will see that it has reach the resistance and this confirms a strong selling position.
The trend is UP but it should correct deeply to 64-65 levels before resuming the UP trend or reversing, therefore, I am watching Oil to SHORT from new highs identified into the chart. Stop loss is 70.50. If you cannot afford it, do not take this trade.
Two impulse waves (A-B-C) followed by a three wave correction in a pole and descending wedge pattern. An expected 1-1 movement is possible but to be on the safe side a 1.618% Fibonacci retreacement was made measuring the impulse waves. TP is 68.3XXX
Crude oil prices resumed the rally on Wednesday and extended gains to the $67,43 figure. After reaching fresh November highs, Brent has settled around the $67 level and looks directionless in the short-term charts, trading with a slight bearish bias on Thursday.
The recent ascent in prices was fueled by a number of factors. Saudi Energy Minister Khalid...
Hey guys,
I am big fan of Brent Cude Oil in the last time its a really nice trend like you can see!
I wait for another long entry!
"No trade recommendation!"
