Price dropped sharply after the retest of the 53.03 static resistance, however, a breakout is favored after the Friday’s impressive rally. Brent Oil is facing a tough resistance area, resistance can be found at the 61.8% retracement level and higher at the warning line (wl1) as well.
Only a breakout above these levels will send the rate towards the median line (ML) of the major ascending pitchfork.
