AltiFX

Double top or bullish continuation on brent oil?

TVC:UKOIL   CFDs on Brent Crude Oil
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Yesterday started a bull run, breaking the head and shoulders pattern. Today we look for a continuation on this bull run, until the trend line shown on the graph. Wait for the price action at this level to take a trade. If it breaks the trendline our first price target is 38$, with a second more risky price target at 39.5$( which is the highest price since the gap down on oil on March 6th ). The strength of the bullrun will determine whether or not this target will be hit. Until the price reaches the trendline shown, our position is neutral. (Update will be given later today based on price)

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Short until 35.6$ tradingview.com
SL 36.20$
Risk to reward 5.78:1
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