Price has been hugging the bottom of the channel , we have now broken out of the downtrend from early Oct, so the downside is limited, if price falls below channel there looks to be strong support around 58.6 where it will retest the downtrend line as well, on the upside there is potential for a bullish Santa rally to 65.8 area to test top of channel.
Note
Christmas is cancelled, now its a sell from the support area should Brent retrace.
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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.