TipTVFinance

Brent oil – Falling trend line established

FX:UKOIL   Crude Oil (Brent)
Resistance - $50.89-$51.00, $52.08, $52.83

Support - $49.70, $48.34, $47.30

  • Brent’s failure to sustain above rising trend line (black) if followed by a break below the Asian session low of $49.70 would open doors for a slide to $48.34 (50% of May 2015 high – Jan 2016 low + rising trend line – red).
  • Moreover, Brent’s move lower yesterday has established a falling trend line .
  • A daily close below $48.34 would indicate the correction from June 9 top of $52.83 has resumed.
    On the higher side, a day end closing above $51.21 (previous day’s high) is required to signal a re-test of June 9 high.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out