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USDBRO bounced off 58.95 where it could potentially rise further to 61.40.
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After an exhaustive trend downwards from an April high of 75.700, Brent lingers around a solid support level of 70.000
A perfectly timed descending triangle has formed for the Black Gold ahead of a breakout to the 72.450 level, retest 71.700 and daily target push toward 74.500/74.850
This move could prove in line with our USDNOK Trade
Brent crude oil is testing major support at 68.50 (Fibonacci retracement, horizontal overlap support) and a break of this level could potentially drive price all the way down to 65.96 (Fibonacci retracement, horizontal overlap support). It is important to keep an eye out on our long term ascending support line too which could serve as potential intermediate...
