Brent oil stays on the way to $76.25 despite recent pullback
Brent oil prices ease from the two-week top during early Friday. However, the British oil benchmark holds onto the three-week-old resistance breakout, marked the previous day. Given the firmer oscillators offering additional signals for upside momentum, a monthly horizontal area surrounding $76.25 is up for a challenge. However, any further advances become doubtful, which if portrayed could refresh the yearly top, currently surrounding $78.45, by rising towards the $80.00 psychological magnet.
Meanwhile, a daily closing below the resistance-turned-support line around $74.50 will redirect sellers toward the $72.50 and then to May’s high near $70.40. It should be noted, however, that the quote’s weakness past $70.40 will be challenged by the $70.00 round figure. If at all the Brent oil bears refrain from respecting the $70.00 mark, a convergence of 100-DMA and an ascending support line from March 23, near $69.75, will be crucial to observe.
Meanwhile, a daily closing below the resistance-turned-support line around $74.50 will redirect sellers toward the $72.50 and then to May’s high near $70.40. It should be noted, however, that the quote’s weakness past $70.40 will be challenged by the $70.00 round figure. If at all the Brent oil bears refrain from respecting the $70.00 mark, a convergence of 100-DMA and an ascending support line from March 23, near $69.75, will be crucial to observe.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.