Brent Crude Oil Short Idea

Brent Crude Oil has reached the Key physiological level of 80.00. On Friday the price surpassed the 82.50 area however since then the price has been unable to break past the previous high. On the Daily and 1hr time frame, the RSI levels are in oversold areas which indicates a sell on a short-term bias sentiment. The initial target for this trade is located at 81.20 - followed by 79.62 if the downtrend continues. The stop-loss is located at 82.88.