Brent Crude Oil: UKOIL Shorting opportunity here
Brent Crude Oil UKOIL Slow Burn
Brent is beginning to drift away from the upper parallel but
it's taking its 'sweet' time to do it. I should come back down to
the lower parallel given time, bouncing at 61.70 and
eventaully hitting 60. In an ideal world this will occur around
20th November at the point where fixed and dynamic supports
meet. Stops for shorts need to be above 63.17 for small loss if
wrong.
Brent is beginning to drift away from the upper parallel but
it's taking its 'sweet' time to do it. I should come back down to
the lower parallel given time, bouncing at 61.70 and
eventaully hitting 60. In an ideal world this will occur around
20th November at the point where fixed and dynamic supports
meet. Stops for shorts need to be above 63.17 for small loss if
wrong.
Transaction en cours:
Fabulous break straight the first target at 61.70 for 110 pips profit. It will try to bounce so day traders can close out and short from a little higher, but don't look for too much upside from here. Swing traders are advised to ride the bounce, looking for a test of the lower parallel, buying back on first touch. And if at any point Brent breaks below the parallel we should stand ready to short the hell out of it again
Transaction en cours:
Brent is bouncing and creating pin bars - don't like this pattern so need to put a stop on this at 61.90 so if hit we still take around 100 pips profit