Short Term Bullish
Brent Oil has enormously dipped from Feb to end of Apr, broken a valid uptrend line which has introduced a change in trend to bearish. The commodity was then turned to the upside, which we see as a pullback to point E at 60, before a further down move potentially to ATL in 1998 at 9.7 to complete a nonfailure swing reversal pattern. We will look into price action at point E to confirm reversal bearish move.
Disclaimer: The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Disclaimer: The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
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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.