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jasperlawler

$71 last hope for Brent crude oil bulls as sanctions kick in

Short
CFDs on Brent Crude Oil (TVC:UKOIL)  
jasperlawler  
TVC:UKOIL   CFDs on Brent Crude Oil
Trend Analysis Support and Resistance Trend Lines brent brentoil brentcrude brentcrudeoil brentshort
3
0
trendanalysis supportandresistance trendline brent brentoil brentcrude brentcrudeoil brentshort
The introduction of US sanctions on Iran has been a "sell the fact" event. Brent crude has broken a long term rising trendline = bearish

Scenario A) price bounces to 74.30-75.10, which holds as resistance for another leg lower towards 71
Scenario B) price just drops from current levels to 71

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