parisseine

Brent Crude Oil , 5 key levels to watch

OANDA:BCOUSD   Brent Crude Oil
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OANDA:BCOUSD

As published previously the bearish momentum has corrected each of the bullish attempts so far. The updated 120 minutes chart suggests that the market configuration hasn't changed that much from last week.
Despite that strong headwind I still consider a new attempt to the upside can be initiated from level 5 indicated in the chart. Conversely, a cross of level 1 will trigger a new downtrend impulse
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