Short Term Correction for Brent Oil?
Brent is reversing after unsuccessful attempt to challenge the Major Long Term Down Trendline (from Jul 2008 – All Time High).
Negative divergence can be seen between Brent and RSI and a short-term correction is expected.
Nearest support at USD74.45 confluences with 20-day EMA and Brent is expected to rebound off at this level. Breached this level, the next support is USD72.11.
Negative divergence can be seen between Brent and RSI and a short-term correction is expected.
Nearest support at USD74.45 confluences with 20-day EMA and Brent is expected to rebound off at this level. Breached this level, the next support is USD72.11.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.