Brent Downside 13:35:40 (UTC) Tue May 19, 2020
SOIL is approaching our first resistance at 59.96 where we might see a corresponding drop to our first support at 51.08. Stochastic (21,5,3) is also approaching resistance where we might see a corresponding drop in price.
Key levels to look out for, please refer to our 4 hour chart for a strategic view!
USDOIL is approaching our first support at 39.86 (horizontal swing low support, 100% fibonacci extension, 76.4% fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 49.62 (horizontal pullback resistance, 23.6% fibonacci retracement). Stochastic (89,5,3) is also approaching support where we might see...