mateka
Long

Will the short therm downward trend brake?

TVC:UKOIL   CFDs on Brent Crude Oil
Brent Crude Oil bounced back from the 52.72 price resistance level yesterday after the short-therm upward trend. As long as the price remains under the red downward trend-line, short positions are favorable. IF it breaks above the red trend-line then immediate long positions are suggested with a $52.72 take profit, which serves as a strong resistance level .
Comment: The price level went through the $52.72 resistance level, if the price will close above this line today the $52.72 resistance level will become the support level for Brent Crude Oil.
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