As you can clearly see in the chart, Brent is entering into the resistance area and also retraced 61.8 percent. it might fall from here after consolidating for some time. wait till it comes out from the area and short when it comes back to retest.
good Risk reward from here in the downside.
Not a financial advice.
As per chart Brent crude can side further. On 4 hour chart it is trading and forming triangle like pattern.
Our expectation is that can slide till 58.70.
Momentum Indicator RSI trade side ways around mid level of 50.
Price action wise larger bearish candle can also suggest traders involvement going downside.
Being Major Trend is down crude oil futures is all set to re-trace it's up move.
So one can Short Around 45.70 and Above keeping a Stoploss level @ 46.50 to 46.60
For Target 44.25$ to 43 $
This is a short to medium term Trade