BCOUSD (Brent crude oil)

OANDA:BCOUSD   Brent Crude Oil
Right now oil is in a downtrend moving through the channel shown in the analysis, also confirmed by being under the 20, 50 and 200 moving averages on the 4 hour chart.

A good place to sell would be anywhere at the top of the channel up to the purple sell line. This is because of a possible fake out.
The price should then continue moving down through the channel towards the buy point.

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