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Brent Crude Breakout?

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CFDs em Petróleo Bruto Brent (TVC:UKOIL)  
Uncharted-FX  
TVC:UKOIL   CFDs em Petróleo Bruto Brent
Support and Resistance Rectangle Fundamental Analysis Oil oiltrading brent brentoil Crude Oil Brent Crude Oil WTI brentcrude Commodities
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supportandresistance rectangle fundamental oil oiltrading brent brentoil ukoil usoil brentcrude commodities
Awaiting for the close to confirm this breakout. Of course this would be a trade. I am still of the opinion that a recession is coming (or we are already in one) and oil will struggle. Really only geopolitics can change that.

However, on Brent crude, we had a downtrend and failed to make more lower lows. Indicating that the buyers were stepping in and the trend was changing.

We appear to be getting a confirmed break above this resistance level. Just awaiting the close.

There is a flip zone at the 64.10 zone so watch how price reacts there.Otherwise 65 may be in the cards.

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