Brent crude oil fell below support of 70.31 (Physiological level 70 also) and also upper line of Ichimoku cloud. Fall also accelerated on high volumes. Next support is around 64. In absence of any positive news, may touch lower side of channel.
Trade closed: target reached:
Just touched the lower line of channel. I still believe it will touch Fib 50% level and will consolidate for some time and may start its upward journey.