We are following brent oil very carefully – it is our only open position. Brent is currently around $6 lower than our short entry and it has the potential to fall another $8. However we are concern that there is significant trend line support in the next few days at around $77.8 and $76.0 which could result in sideways to upwards consolidation which would scupper the move down.
If decent support is found we will exit this trade at a good profit.
The content on this site including products sold in our store and our posts on Twitter, Facebook, Instagram, Pinterest, Linkedin and any other site or medium are not investment advice. If you wish to trade or invest based on our analysis you should do so with great caution and consult your financial adviser. Remember never to invest or trade more than you can afford to lose.