Phenlx
Long

Brent Oil, Daily Outlook!

FX:UKOIL   Crude Oil (Brent)
1009 0 10
On the daily chart Crude Oil             has been traded for the last 7 weeks on higher levels.
These increasing prices are still amid a bigger falling trend channel (red channel) and with this from technical perspective only seen as a smaller trend evolution (green channels).
Although further falling prices may be seen, on mid-term perspective a decelerating falling momentum can be observed (Black descending trend line = Bullish Wedge)

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Please remind yourself that this is just my personal view on the market and you always should do your own analysis before trading. My Analysis should not serve as any recommendation to buy or to sell. My analysis are just my ideas and opinion how market could develop.
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