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CFDs on Brent Crude Oil
Short

OIL MID-TERM SHORT

By FX_CouchPotato
UKOIL

After completion of a nearly perfect AB=CD pattern price started to move up, but bounced sharply off 50% retracement level. I am expecting a continuation of a downtrend starting with a re-test of point D price level of ABCD pattern followed by testing the support at 41.94. My ultimate target rests at 37.48, this level additionally coincides with last Gann Fan support line which over the past year proved to be valid with some margin of error.
FX_CouchPotato

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