Brent has met resistance at the ceiling of the green channel. This is above the high on 9 february. WTI has not at all reached it's high of 9 february yet.
At the same time it seems to have broke above the downward trendchannel (yellow, orange and red lines, they come out different depending if you paint on 4H, dailiy, weekly etc). Compare to my chart for WTI oil, which is still inside the downwards trend channel.
If Brent decides, I think oil can continue up. If WTI decides, I think we shall test the bottoms again and now is a perfect short. Too much ambiguity right now.
At the same time it seems to have broke above the downward trendchannel (yellow, orange and red lines, they come out different depending if you paint on 4H, dailiy, weekly etc). Compare to my chart for WTI oil, which is still inside the downwards trend channel.
If Brent decides, I think oil can continue up. If WTI decides, I think we shall test the bottoms again and now is a perfect short. Too much ambiguity right now.