Brent crude just bounced off $80 resistance-turned-support
Brent crude is in a longer term uptrend - but is on the cusp of a big negative week- perhaps implying more downside to the correction
Scenario A) Await clearer signs of a base for price to hold above 80
Scenario B) Look for fresh sell signals below 82.5
Scenario A) Await clearer signs of a base for price to hold above 80
Scenario B) Look for fresh sell signals below 82.5
Comment:
Correction has had a lot more downside - with sell signals below 82 leading to 76
