Weekly Bat Pattern

2 thg 1, 2015

The Brent weekly chart is currently at the 0.786 fibonacci retracement level. If it can get down to the 0.886 fib. level then it would be a bullish bat, with the first upside target at around 70. If it goes past 0.886 fib. level then my short target will be the 1.13 fib. level, at around 25, this would then complete an alternate bat pattern, my overall bias is long because I believe this market needs a correction sooner or later.