Ive been holding shorts on brent since prices where at 64. My view is that brent oil is going to go to the low 56 zone this coming days as all my indicators and patterns are pointing to it. Longer term I'm seeing prices make new highs for 2018 so I would reevaluate the situation once prices hit those lows, where ill be considering buying from there once the opportunity arises. I also published an analisys on WTI before where I see prices visit the 54 zone.
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Price action today has been very volatile but its ok as its part of the game. target will be hit eventually. don't see this making new highs before hitting the target. unless of course some big geopolitical event takes place.