BRENT OIL 1H CHART
As mentioned yesterday the failure at the 105 lows told us that price is heading for the 786 up at 110.26, price came just shy of that to 110.16.
We had a bearish cs formation at the 618 again yesterday and that also came shy of 107.00, then rallied, stops should have been at zero anyway.
We had a bearish cs formation at the 618 again yesterday and that also came shy of 107.00, then rallied, stops should have been at zero anyway.
Today we will be looking g for a test of that 786 and then a bearish cs formation to short.
Else if price keeps rallying then 111.69 will be the next target level, which once bridged, will put the pressure back on the up side.
SHORT: Will be going short only IF:
We get a rally and a bearish cs formation, trade this to the BF786 around 106.14.
LONG: Will be going long today only IF:
Can only look at long trades if we get a bullish cs formation at yesterday’s lows, else lower down at the BF786, this will be a PT to the A high since we had a 786 prior.
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