Rising trend line has been breached, we also see -
Head and Shoulders (H&S)
Bear Flag
H&S neckline and Bear flag floor coincide... offer support at 448.00 levels.
The bearish breakdown was confirmed on Friday. Today's up move is nothing more than a bull trap...
Prices likely to test 400.00 levels over the next week or so.
The bearish view goes will with the fact that Brent oil has breached the year long rising trend line as discussed in the previous post.
Head and Shoulders (H&S)
Bear Flag
H&S neckline and Bear flag floor coincide... offer support at 448.00 levels.
The bearish breakdown was confirmed on Friday. Today's up move is nothing more than a bull trap...
Prices likely to test 400.00 levels over the next week or so.
The bearish view goes will with the fact that Brent oil has breached the year long rising trend line as discussed in the previous post.
