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.