Brent Oil rallied in the yesterday’s session, but failed to close above the median line (ML) of the major ascending pitchfork. Price is trading in the red right now and tries to stabilize below the 250% Fibonacci line (descending dotted line). I’ve said in the previous days that a retest of the ML followed by a minor drop will confirm a larger drop in the upcoming period. Only a valid breakout above the ML and above the 57.72 will validate an increase at least till will reach the 59.50.
