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Brent Crude Oil
Short

Brent Crude Oil testing major resistance, potential for a drop!

By Tickmill
Broker

Brent Crude Oil (BCOUSD) is tesing major resistance at 66.64 (Fibonacci extension, Fibonacci retracement, horizontal pullback resistance) and a strong reaction could occur at this level to push price back down to 64.31 support (Fibonacci retracement, horizontal overlap support).

Stochastic (34,5,3) is seeing major resistance at 98% where a corresponding reaction could occur.

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Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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