oil Brent reached 200 days EMA and complete ABCD pattern
fundamentally with oil prices recovering from its lows and oil suppliers looking to increase market shares "news linked below" and technically reaching 200 days moving average, so a pressure on oil prices expected.
we can see from the chart that a bearish ABCD pattern have formed and i have insert price target in between 38.2%-61.8% Fibonacci retracement first 60 and second 54.5.
we can see from the chart that a bearish ABCD pattern have formed and i have insert price target in between 38.2%-61.8% Fibonacci retracement first 60 and second 54.5.