Brent oil – Fresh sell-off below $44.17
Brent’s recovery from the recent cyclical low of $41.49 if fails to breach falling channel (lower end/now resistance) and is followed by a break below $44.17 (23.6% of $52.83-$41.49) would open doors for a fresh sell-off towards $41.49 levels.
On the higher side, only a daily close back inside the falling channel would signal further rise to $46.14 (daily 100-MA).
On the higher side, only a daily close back inside the falling channel would signal further rise to $46.14 (daily 100-MA).
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