Brent Oil - 240 - Can the downside line hold?
Updated
Quick idea.
If the short-term downside line holds and doesn't allow for the price to rise higher, this could result in another round of selling. But to get a bit more comfortable with the downside, a drop below the current lowest point of January would confirm a forthcoming lower low and more sellers could join in.
Please see the chart for details.
Don't forget your stop-loss.
If the short-term downside line holds and doesn't allow for the price to rise higher, this could result in another round of selling. But to get a bit more comfortable with the downside, a drop below the current lowest point of January would confirm a forthcoming lower low and more sellers could join in.
Please see the chart for details.
Don't forget your stop-loss.
Note
Please join our daily live quick technical market overview webinars - Trader’s Espresso and Trader’s Tea Time - on JFD Bank YouTube and Facebook pages.Trader’s Espresso – 07:00 GMT
Trader’s Tea Time – 14:15 GMT
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.