Brent crude oil is testing major support at 68.50 (Fibonacci retracement, horizontal overlap support) and a break of this level could potentially drive price all the way down to 65.96 (Fibonacci retracement, horizontal overlap support). It is important to keep an eye out on our long term ascending support line too which could serve as potential intermediate...
Short Brent under 70.65 $/bbl for a long term trade (sell and hold) SL @ 71.35 TP @ 61.10 I have little time to explain all the ideas behind that trade, but will make a big analysis in few hours about the idea and the numbers in trade. It will include fibonacci, EURUSD, the coming ECB meeting today and much more there. Good luck! I am in as soon we go under...
Brent crude oil is starting to show bearish signs and a potential reversal. Our major support remains at 68.60 (Fibonacci retracement, horizontal overlap support) and a break of this would trigger a bearish move down to support at 65.98 (Fibonacci retracement, horizontal pullback support). We can see that price has made a recent bearish exit of an intermediate...