I’ve been playing the top of this Brent pattern a few times and were up here again.
Brent crude daily chart 16 05 2014
We’re into the realms where the wedge is closing and we’re likely to get a break but even outside of that there are still levels that might contain. I’ve got more than half an eye on the weekend now so I’m not really interested in a short right before it. I’ll have a look Monday and if we’re still here then I’m going to think about shorting. I would prefer it against the higher Feb 2012 trendline but the $1 buck difference isn’t much to wear to trade both.
