Technical Analysis

Brent Oil Losing Momentum


Brent Oil increased little today and tries to stay above the broken 250% Fibonacci line (descending dotted line). I’ve said in the previous reports that the price could come to retest the median line (ML) of the major ascending pitchfork before will drop again. We’ll see what will happen when will hit the ML and also the 57.72, a rejection will send the rate at least till the 61.85 retracement level and towards the 53.03 horizontal support.

Author: MultiBank Exchange Group Website:
MultiBank Exchange Group
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