Bearish continuation in Bear trend?

TVC:UKOIL   CFDs on Brent Crude Oil
On higher timeframes (weekly/daily) bearishness has begun to creep in with two bearish days to close out the last week
A new trend has formed on the hourly
Looking for bearish continuation, there is previous support which aligns with the 38.2% Fibonacci level
If price retraces (and it looks like it is), then the rectangle highlights the zone of interest to watch for a short entry


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