Brent oil – Rising trend line could be put to test
A rising trend line drawn from the August low and September low comes around $48.30.
Despite the minor recovery to $49.00 levels, bears remains in control given the Monday’s sharp losses, hence fresh offers could take the prices down to $48.30 levels.
A daily close below $48.30 would expose $46.92 (June 17 low).
Despite the minor recovery to $49.00 levels, bears remains in control given the Monday’s sharp losses, hence fresh offers could take the prices down to $48.30 levels.
A daily close below $48.30 would expose $46.92 (June 17 low).
