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Tickmill
Mar 8, 2018 4:38 AM

Brent Crude Oil approaching support, potential for a bounce! Long

Brent Crude OilOANDA

Description

BCOUSD is approaching strong support at 63.54 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) and a nice bounce could potentially occur at this level to push price up to major resistance at 66.35 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance).

Stochastic (34,5,3) is seeing major support above 2.1% where a corresponding bounce could occur.

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