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Brent Crude Oil Analysis 25/08/2017

TVC:UKOIL   Brent Crude Oil
The price may bounce back from the 52.70 resistance level and short positions will be favorable, if the price will break steeper trend line also than short positions get a double confirmation. However we have to notify that the event occurring in the Mexican Gulf related to Hurricane Harvey can override the predicted movement of this analysis.
Comment: As it was performed by the market perfectly, the price bounced back form the 72.70 resistance level and broke below the trend line, which turn Brent Crude to a downward trend until it reaches the the less steeper trend line.
Comment: New Analysis is up you can find it via:
AS the price broke below the less steeper trendline the short positions are in light still. The target for th short positions is the 50.00 dollar support level. Furher analysis will be posted later on this week.
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