Here is a little short trade on Brent, if the current retracement resistance holds its ground. Entries are marked as STOP, Red line, Entry Green Line and TARGET, Dotted line.
Trade Alert
Even though we are seeing Brent Oil recovering back up slightly, still the momentum is to the downside, for now. This could be a good opportunity for the bears to take advantage of the higher price.
Ofcourse, that said, be very careful, as a strong reversal back up above the 85.40 could push away the downside idea for now.
Don't forget to have your...
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
Midterm forecast:
While the price is below the resistance 82.00, beginning of downtrend is expected.
We make sure when the support at 70.30 breaks.
If the resistance at 82.00 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the peak at 70.35 on 2018-01-15 and the peak...
After a big rally of the UKOIL now it is time to get a downtrend .Yes the reversal has occurred as per the longbuylongsell indicator ,good move will be in the coming week.
Related scripts below .
Comments have more time frame charts.
Oil price have rallied over the U.S sanction on Iran, which I think is an overreaction and underestimation of how Saudi, OPEC and Russia can still provide the 2 million barrels that would come off the market once the sanction starts in November.
Technically however :
1. Price-RSI divergence
2. Boomerang Level as targets (click the chart below to understand...
