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    HomeContributorsTechnical AnalysisBrent Oil Further Drop To Come

    Brent Oil Further Drop To Come

    MultiBank Exchange Group
    By MultiBank Exchange Group

    Brent drops towards the 55.81 yesterday’s low. A failure to make new lows will force the rate to climb towards the 250% Fibonacci line (descending dotted line again). Technically is somehow expected to drop further towards the downside line of the ascending channel. However, it could turn back to retest the median line (ML) before will drop further.

    MultiBank Exchange Group
    MultiBank Exchange Grouphttp://www.mexgroup.com
    Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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